from SRS Rocco:
For some strange reason, the Western official gold demand figures for China are WAY OFF. According to a recent article by Koos Jansen at Bullionstar.com, the Chinese Gold Association reported much higher gold demand than the figures published by the World Gold Council.
In the article, China Gold Association: 2013 Gold Demand Was 2,199t, wholesale gold demand in China was 2,199 metric tons (mt) in 2013 compared to the 1,066 mt reported by the World Gold Council.
This is not a small disparity in reported gold demand by these two organizations, but a huge 1,133 mt difference. Surprisingly, the difference between the two is actually greater than total Chinese gold demand stated by the World Gold Council.
Koos Jansen explains this in the article by writing the following:
As you can read below in the translation from a Chinese press release about the China Gold Yearbook 2014, the CGA states Chinese wholesale gold demand in 2013 was 2,199 tonnes; bullion import 1507 tonnes, doré import from overseas mines 17 tonnes and domestically mined gold accounted for 428 tonnes. (scrap supply must have been 247 tonnes)
…The information the CGA publishes in English about Chinese non-government gold demand, 1,176 tonnes in 2013, severely understates true non-government gold demand, 2,199 tonnes in 2013, which is only disclosed by the CGA in the China Gold Yearbook 2014 exclusively published in Mandarin hard copies.
(courtesy of BullionStar.com)
All Western institutions and press that attended the China Gold Congress have Chinese employees who can perfectly read the China Gold Yearbook 2014. Like I said, why these institutions don’t publish true non-government Chinese gold demand is “a mystery”. I can tell you this though, 99.99 % of the global financial industry uses the Chinese demand numbers from the WGC, which state 2013 demand was 1066 tonnes. From an investment point of view this can give you an advantage.
So, what Koos is saying here is that the Chinese who can read their own 2014 Gold Yearbook know that the ACTUAL DEMAND was 2,199 mt compared to the stated 1,066 mt by the World Gold Council. It seems as if the Chinese rather the West advertise Chinese gold demand is much lower than it actually is.
Looks like they don’t want to spoke the markets. This allows the Chinese to purchase more gold with soon to be worthless U.S. Fiat Dollars before its value collapses.
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