Point Out The "Slump" In Chinese Gold Imports On This Chart

Tyler Durden's picture

Lately Bloomberg's reporting group (now without access to client tracking) has been hitting it out of the park when it comes to cognitive schizophrenia-inducing news article headlines.

Last Friday it was the market somehow going up and down at the same time.

Now, Bloomberg has shifted its deductive skills over to analyzing the gold market with the following article headline: "China’s Gold Imports From Hong Kong Slump on Quota Backlog" in which Bloomberg says: "Mainland buyers purchased 126,135 kilograms, including scrap, compared with 223,519 kilograms in March, according to Hong Kong government data yesterday. Net imports, after deducting flows from China into Hong Kong, were 75,891 kilograms, from 130,038 kilograms a month earlier, according to Bloomberg calculations." Now perhaps what would have made this "slump" more amusing is if BBG had also shown it in context. Which we are happy to do. Because the 126.1 tons of gold imports in April, or the month of the "great gold crash", was only the second highest ever, and just shy of the all time record high of 223.5 tons imported in March.

And the "slump" when observed year over year. Hmmm:

Bloomberg was right about one thing however:

Some qualified banks used up their gold import quota in the first three months and weren’t able to get the paperwork done fast enough to bring in bullion in April,” said Tian Rui, vice president of the precious metals division at INTL FCStone Trading Co. “We might see higher imports in May because demand surged after the rout.”

In other words, look for the unslump in May when a surge in even more buying sends gross imports from Hong Kong to what may be new all time highs.

In the meantime, YTD imports of 500 tons are more than double the 240 tons imported over the same period last year: the same amount as held by the ECB.

China has now imported 1,333 tons of gold since January 2012, or 30% more than its official gold holdings, and is on a run rate to import 1500 tons in 2013 alone.

At least someone is taking advantage of all that levered ETF paper gold selling...

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alexdg's picture

It's the ol' "glass one tenth empty" approach!

GetZeeGold's picture

 

 

The Barbarians are everywhere!

Big Slick's picture

Wait til Obama's EPA takes us off of the Tungsten standard.  Fiat lightbulbs.

Translates symbolically into fiat thought

On second thought, this has happened already with the CFLs - I can't read a book at night in my in-laws' house without getting a headache from those damn things

Pinto Currency's picture

 

The chart above is just part of the story.  Hong Kong is one only source for China to import gold.

As of May 31, Shanghai Gold Exchange "Deliveries from Vault" for 2013 stood at 820 tonnes despite gold delivery halt from April 20 to ~ May 25.

 

fourchan's picture

massive purchaces and stockpiling of gold around the world causes prices to sag. 

eclectic syncretist's picture

While Bloomberg is busy saying that 126 tonnes is next to nothing, they forgot to mention that the COMEX currently has a grand total of 52 tonnes registered, or enough to supply less than two weeks of China's suddenly "dampened" desire for the yellow metal. 

Nehweh Gahnin's picture

Just wait till you break one.  That mercury is lovely stuff.

horot's picture

I think the barbarians are already here.

Gavrikon's picture

As a Barbarian, I would just like to say that the fucking Retards keep missing it.

SamAdams's picture

China is currently trading all those rapidly inflating dollars for real wealth.  They also are quite adept at creating wealth through manufacturing and agriculture.  Back home, our primary means of wealth creation are arms manufacture and ethanol.  Our beloved tax system is going to have fewer to tax, the whole while the IRS smiles and reminds us "The Bill of Rights is very fragile, very human".  Criminal bankers and a rogue government do as they will without fear of punishment (just ask Corzine and Holder).  The middle class, the family unit and morality are being destroyed while a gay agenda is pushed even onto the Boy Scouts.  If that doesn't put the writing on the wall, I don't know what will...

"China has now imported 1,333 tons of gold since January 2012, or 30% more than its official gold holdings."

Caviar Emptor's picture

First of all you forgot one other means of wealth creation at home: carb consumption in all it's guises (taco shells, pizza, sugary drinks) and the associated boom in jobs (delivery service, advertising, jingo writing).
And FRNs. Many many.
The American Recovery is well under weigh!

SamAdams's picture

I see weight you did there...

StandardDeviant's picture

Don't forget the enormous, and I do mean enormous, demand for medical technology and services.

SamAdams's picture

Right you are.  Overpaid and undertaxed big-pharma.  Is it ironic that with so much healthcare, America leads the world in cancer rates? 

Silveramada's picture

Not only gold...but also silver! They stop exporting long time ago, wonder why!

 

 

by the way, an interesting copper startegy with US nickels is here:

http://zysites.com/silververitas/

Stanley Lord's picture

 I saw this morning that cunt Becky Quick say on CNBC, "Verizon taking phone records is the same as data mining at the major corporations that we talk about all the time".

What a useful fucking idiot.

koaj's picture

I wonder if they are sending the NSA/CIA my Fios web history

I always assumed I was on whatever lists they had anyway. I guess it will be nice to know when I will be sent off to the Linden NJ FEMA camp  (http://woodbridge.patch.com/articles/some-residents-worry-about-a-fema-c...). I would prefer a warmer climate if I had any say in the matter.

GetZeeGold's picture

 

 

We've been listening to you.........SURPRISE!!!

Acidtest Dummy's picture

But they never seem to hear us when we're crying...

mayhem_korner's picture

But they never seem to hear us when we're crying...

 

Sound like Sydney Crosby talking to Gary Bettman about the refs.

Acidtest Dummy's picture

It was Jimmy Cliff, "The Harder They Come."

Debt-Penitent's picture

Prepare for that proverbial FEMA camp collection crew.  I am prepared and not alone.  What a poor career choice they will have taken.

I'm on "the list" and rest assured knowing so.  If you thing you may be, you've been so, for some time.

They don't build multi-billion dollar networking sites with zetta bits of storage and anthrologic software for nothing.

krispkritter's picture

Hope Uncle Warren sits on her head in the tub one day...

And face it.  If information travels across wires or via wireless, they're listening.  And I don't doubt that they've spent our tax dollars on other more devious ways to keep tabs on us that we don't know about yet...

mayhem_korner's picture

 

 

Indeed.  The drone over my house is now monitoring you via a link to the drone hovering over yours.  I'll talk up my gold stack and see if I can divert it back to watching me again.  (no charge, btw)

LawsofPhysics's picture

Wow, taking out a drone will mean free pizza!  Oh how we have advanced...

krispkritter's picture

Like Manna, falling from heaven....with extra toppings of lead shot and electronics.

Monedas's picture

Monedian Logic:    Becky = Rebecca + Quick = Quickenheimer ....... therefore it follows ...... yup, yup, she's a Joo !

Rip van Wrinkle's picture

The likes of Quck are certainly no idiots. They're paid whores to the politcial system. In the same way as prostitutes sell their bodies for money, Quck sells her mouth for money.

mayhem_korner's picture

 

 

If it walks like a Quck, talks like a Quck...

BTW, some prostitutes sell their mouths for money, too.

tao400's picture

I hate her more than you do.

Dr. Gonzo's picture

I hate that bitch too and I don't even have cable tv.

HedgeHammer's picture

I hate her more than you do.

 

It depends on your definition of the word "You"

LoneStarHog's picture

I will have another SUPER-SIZE BIG GULP of sugary Bloomturd propaganda, thanks.

Lets_Eat_Ben's picture

I love the smell of BULLSHIT and coffee in the morning.

Monedas's picture

Buy two 16 oz soft drinks .... third one is free !

LoneStarHog's picture

May I get a second slice of pizza?

DirkDiggler11's picture

Bloomberg News:
Where accuracy and getting it right the first time have never been a priority for our Ivy League journalism majors that couldn't even find jobs as "community organizers."

You are better off getting your news from the bathroom walls in Grand Central Station. At least that way you can actually smell the "shit" too instead of just reading it from Bloomberg. Accuracy is probably better as well, don't think the homeless are really pushing any type of agenda ...

Monedas's picture

No slump in slag from Canadian mint !  

Charles Nelson Reilly's picture

I can't wait for the day when the Chinese come out with their "official" gold holdings and have a lot more than anyone estimated. The fucktards at CNBC will go into full panic & spin mode.

Inbetween is pain's picture

Why would anyone care how much gold China has?

LoneStarHog's picture

New World Reserve Currency, for starters. Duh!

onewayticket2's picture

Question:  agree it's the logical reserve currency.  however, GE can now manufacture diamonds.....is it unreasonable to say they can make "gold" too?

 

which would/should kill the reserve currency argument.  gold was standard 1000 years ago.  we can now travel to mars.  why not a commodity that no one can make....like moon dust or mars soil or something like that.

 

[i know it sounds whacky....but is gold outdated as a standard?]

Umh's picture

A diamond is made out of carbon and gold is made of gold.

onewayticket2's picture

some of it's made of tungsten.

onewayticket2's picture

by the way, it's not quite as whacky as even i thought.  here's the patent application (which might mean nothing at all), but there's been a LOT of doors opening with the particle accelerators over the last few years.....

 

abstract:

A man made method, utilizing particles bombardment technique, is used to produce Gold and Platinum. The particles bombardment technique uses particle accelerator to accelerate Lithium particles to high speed. These high speed Lithium particles contain high energy. These high energy Lithium particles are used to bombard Osmium element. Then elements Lithium and Osmium undergo cold fusion process that they are combined to produce element Gold

Read more: http://www.faqs.org/patents/app/20080245187#ixzz2VRxDqP3w

 

 

GlobalCtzn's picture

I have to admit that at this point I am paranoid enough to believe that TPTB have some major curve ball to throw at those that are 'prepared' for the coming financial carnage by holding metals. And there is scientific evidence to support the possibilty that the method has been found to create gold. Economical, practical, doable? I have no earthly idea. But my gut feels a major unexpected manuever sitting out there just waiting to blow apart all the best laid plans..................

pop goes the weasel's picture

Using a particle accelerator to create 0.00000001oz of gold is not really a good business model

onewayticket2's picture

'I think there is a world market for maybe five computers'    -IBM Chairman, 1943