China’s unreported gold purchases could be more than 10 times its official figures as it quietly tries to diversify away from the US dollar, say analysts, highlighting the increasingly opaque sources of demand behind bullion’s record-breaking rally.
Publicly reported buying by China’s central bank has been so low this year — 1.9 tonnes purchased in August, 1.9 tonnes in July and 2.2 tonnes in June — that few in the market believe the official figures.
Analysts at Société Générale estimate, based on trade data, that China’s total purchases could reach as much as 250 tonnes this year, or more than a third of total global central bank demand.
您已阅读10%（645字），剩余90%（5630字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。