China Buys 23 Tons Of Gold In 9th Straight Month Of Purchases, Total Rises To Record 2,137 Tons

Source: https://www.zerohedge.com/commodities/china-buys-23-tons-gold-9th-straight-month-purchases-total-rises-record-2137-tons
Published: Aug 8, 2023
Author: Tyler Durden
Post Date: 2023-08-08 23:00:51 by Horse
Views: 445

The bullion held by the People’s Bank of China rose by 740,000 troy ounces, or about 23 tons, bringing the country's total stockpile to a record 2,137 tons.

Poster Comment:

Both China and Russia have a lot more gold than they say. Sun Tzu said, "When you are few pretend to be many. When you are many, pretend to be few.

The point is that lots of Central Banks are accumulating gold. They can't keep the price down forever.

Post Comment   Private Reply

#1: TommyTheMadArtist    To: Horse (#0)

What the people do not understand is that Chinese Gold is full of Tungsten. About 1/4 of a bar is gold, and the rest is tungsten.

TommyTheMadArtist posted on 2023-08-09 08:44:19   Reply   Private Reply

#2: Horse    To: TommyTheMadArtist (#1)

That is US gold, not Chinese.

Horse posted on 2023-08-09 12:57:24   Reply   Private Reply

#3: Esso    To: Horse, 4um (#0)

China Buys 23 Tons Of Gold

Sure didn't move the market, Au is still below $2,000.

Gold is still $100 over spot. World's worst investment right now. You start out in the hole.

Esso posted on 2023-08-09 13:20:25   Reply   Private Reply

#4: Esso    To: Horse, 4um (#2)

That is US gold, not Chinese.

US doesn't even have the tungsten, let alone gold.

Esso posted on 2023-08-09 13:21:29   Reply   Private Reply

#5: BTP Holdings    To: Horse, All (#2)

That is US gold, not Chinese.

They have knows about Tungsten laced gold bars since 2012. ;)

BTP Holdings posted on 2023-08-10 07:11:45   Reply   Private Reply