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China Gold Imports From Hong Kong At Record Levels In April 2012

|Includes: SPDR Gold Trust ETF (GLD)

As I already feared, China is scooping up all the gold in the world and is becoming the foremost gold buyer in the world. Trying to get more and more exposure to the reserve currency status.

Today it was released that China imported approximately 104 tonnes, a staggering amount of gold!

The chart looks something like this:

China Gold Imports

Chart 1: China Gold Imports

Disclosure: I am long GLD, PHYS.