ROSS NORMAN: CHINESE Gold Reserves
By GCRU Gold News on Friday, July 17 2015, 23:24 - Permalink
China shocked the bullion market by declaring today its official gold holdings for the first time in 6 years - the surprise was less that they had done so, and more at the incredibly small figure which is less than half the market consensus. China last reported a figure of 1054 tonnes in April 2009 which has risen to only 1658 tonnes today - we don't believe the figure, but we struggle to understand the motivation for down-playing it.