The Phaserl


China ‘has more gold than official figures show’

by Olivia Goldhill, The Telegraph:

China could be holding even more gold than previously realised, according to Alasdair Macleod, a researcher at online precious metals trader, GoldMoney.

Official figures from China Gold Association (CGA) show that the Asian superpower consumed 1,176 tonnes of gold in 2013, 41pc higher than in 2012.

However, about 500 tonnes of gold from Chinese mines and scrap is unaccounted for by the CGA.

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