- China Confirms It Is “Mystery” Massive Gold Buyer With First Official Purchase In 3 Years
by Tyler Durden, https://www.zerohedge.com/
One month ago, we sparked a frenzy across precious metals circles when we reported that a “mystery” buyer had bought some 300 tons of gold, roughly three quarters of what would be a record 399 tons of central bank gold purchases in the third quarter.
While regular readers already know the details (which we laid out here), here again is the bigger picture: Central banks bought a net 399.3 tonnes of gold in the July-September period, more than quadrupling on the year, according to the November report by the World Gold Council. The latest amount marks a steep jump from 186 tonnes in the preceding quarter and 87.7 tonnes in the first quarter, while the year-to-date total alone surpasses any full year since 1967.