Who’s Next? China Finally Starts Snapping Up Gold Miners

peoples trust toronto

Submitted by John Rubino via DollarCollapse.com,

One (perhaps the only) bright spot in the past few year?s gold market has been Chinese and Indian demand for the metal. Here?s a chart, courtesy of Ed Steer?s Gold & Silver Daily, showing that the two countries have imported a cumulative 15,000 tonnes since 2008, which is not far from the total production of the world?s gold mines in that period.

China India gold demand 2015

But physical bullion is only part of the story, and may not be the biggest one going forward. Speculation has been circulating for years that China?s miners, flush with cash from selling their low-cost output to the government, would soon start buying up the world?s in-ground gold reserves. Here?s a representative opinion from 2010:

China buying Gold Mines Instead of Gold Bullion

A top industry official from the China Gold Association told The China daily back in February that the…

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