China Said To Be Mystery Buyer Stockpiling Gold To "Cut Dollar Dependence"

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by Tyler Durden
Tuesday, Nov 22, 2022 - 02:55 PM

Two weeks 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.

And while we clearly had one name as the most likely suspect behind the buying, it wasn't until a report today by Japan's Nikkei that said name emerged front and center.