by the way that 102 tons of gold China imported in November was from Hong Kong only. Is it not reasonable to speculate that China also imports gold from other markets/countries?
Replacing USD with gold in its reserve account is a bad thing?
here is a mineweb article on this:
China's gold output and demand could be far greater than ‘official' data suggest
Author: Lawrence Williams Posted: Thursday , 02 Feb 2012
Following the recent Mineweb article on Chinese gold production and consumption (see China enhances position as world No. 1 gold producer – but where’s it all going?) we have received the following comment s from specialist precious metals analyst, Jeff Nichols of American Precious Metals Advisors and Rosland Capital, which suggests that both Chinese gold production and consumption may be considerably higher than that suggested by official and semi-official statistics coming out of the Asian giant.