Updated China Gold Numbers
Let's be realistic about China's gold reserves they stated in 2009 they had about 1045 tonnes.
Now let's do some simple math rounding numbers off since then.
There own production 400 tonnes annually so for three years that is 1200 tonnes. From 2010 thru 2012 looking forward.
Using round numbers 800 tonnes a year imports for the last three years including this year looking forward again. From 2010 thru 2012.
So the addition brings me to a grand total of 1045+1200+2400=4645 tonnes which by the way puts them second in the world to the USA.(Assuming that the gold is in Fort Knox)
With recent rumors they want to purchase an additional 5000 to 6000 tonnes over the next couple of years WOW!
Last year the whole world production and recycled scrap amounted to 4067 tonnes.
They are the new Hunt Brothers of the gold market!
So the point is the Chinese think long term so should we.