china added 454 tons of gold to reserves , page-8

To add to Shimmers - glittering find:)

http://online.wsj.com/article/BT-CO-20090424-703144.html

CORRECT:Gold Up On Talk Of China Buying,Reserves At 1,054 Tons

Excerpt:

Talk Of Banks Buying Comex Call Options


News from SAFE, which manages the country's foreign exchange reserves including dollar holdings of nearly $2 trillion coincided with talk in the market that potential China-sourced purchases had prompted two major Wall Street investment banks to buy call options in gold in recent weeks.

One trader with a European investment bank based in Singapore said China's SAFE had been buying gold during the past two weeks.

However, this shouldn't come as a surprise, since China has been steadily accumulating gold, in line with its long-term strategy of diversifying its foreign exchange holdings, he said.

Two of Wall Street's biggest names have been buying front-end calls on Comex gold futures earlier this week before gold's rise through the $900/oz level, the trader said.

Another trader in Sydney confirmed at least one investment bank had bought "a bunch of" call option on Comex, maturing in December 2009, with strike prices at $1,000/oz and $1,200/oz.

-By Elisabeth Behrmann, Dow Jones Newswires;