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

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.