The Hoarding Continues: China Purchases A Record 100 Tons Of Gold In April From Hong KongSubmitted by Charleston Voice on Mon, 06/04/2012 - 16:17
Submitted by Tyler Durden on 06/04/2012 15:47 -0400
A month ago we were delighted to counterpoint Charlie Munger's prior remarks about the level of "civilization" of a given consumer based on their sentiment vis-a-vis gold, by demonstrating that Chinese purchases of gold from Hong Kong rose to a record. To wit:
"Imports from Hong Kong were 135,529 kilograms (135.53 metric tons) between January and March, from 19,729 kilograms in the year-earlier period, according to data from the Census and Statistics Department of the Hong Kong government. Shipments in March rose 59 percent from February, yesterday's data showed."