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Chinese imports through Hong Kong alone are set to top 1,000 tonnes this year and this does not include other gold imports into China ex Hong Kong. Therefore, total Chinese gold demand could be as high as 2,000 tonnes. Total annual gold supply is expected to be around the 2,700 tonne mark. Therefore, China alone could swallow up nearly 75% of global gold mine supply this year.


Annual Chinese Gold Net Imports - 2001 to 2013 YTD

It is important to note that the huge Chinese demand in tonnage terms, 1,000 tonnes and possibly as high as 2,000 tonnes, is only worth roughly $39 billion and $78 billion in dollar terms. This is nearly what the Federal Reserve is printing every single month since late 2012.



Source: http://www.zerohedge.com/contributed/20 ... s-part-iii

Do you think they are trading their dollars/debt for gold?

IdahoCopper wrote:Do you think they are trading their dollars/debt for gold?

I'd say you hit the nail on the head!

TPTB are tossing out gold bars for worthless, ever depreciating FRN's.

If you want any Au, get it now while it's on sale and you don't have to pay shipping back from Hong Kong!

Copper Catcher wrote:Chinese imports through Hong Kong alone are set to top 1,000 tonnes this year and this does not include other gold imports into China ex Hong Kong. Therefore, total Chinese gold demand could be as high as 2,000 tonnes. Total annual gold supply is expected to be around the 2,700 tonne mark. Therefore, China alone could swallow up nearly 75% of global gold mine supply this year.


Annual Chinese Gold Net Imports - 2001 to 2013 YTD

It is important to note that the huge Chinese demand in tonnage terms, 1,000 tonnes and possibly as high as 2,000 tonnes, is only worth roughly $39 billion and $78 billion in dollar terms. This is nearly what the Federal Reserve is printing every single month since late 2012.



Source: http://www.zerohedge.com/contributed/20 ... s-part-iii

Yes, as previously noted in other threads. Also China is the largest gold miner in the world, and none of that leaves the country. Of the ~2700 tons produced worldwide they themselves produced >400 tons of it in 2012, and with importing another 2000+, they are single-handedly taking almost the entire annual global production. Wonder why very few people (outside of the circles we run in ) are noting this, and wondering where the gold is coming from? (That's a rhetorical question.)

Note that estimates of Chinese gold reserves are vastly underreported, as the official estimates rely on the Chinese themselves which haven't accurately been updated in years. The Chinese are also encouraging private purchases as much as possible (which they could privatize as needed, as the US did in the 30s).