Gold Down As China Tightens Controls

It appears the PBoC is stepping up the monitoring and management of their gold reserves. Headlines, via Bloomberg, suggest controls tightening on the trading of gold away from official channels:

*CHINA TO INCREASE MANAGEMENT OF GOLD TRADING, PBOC SAYS

*CHINA GOLD TRADING RESTRICTED TO SHANGHAI EXCHANGES, PBOC SAYS

*CHINA ORDERS UNAUTHORIZED GOLD TRADING PLATFORMS TO STOP: PBOC

*PBOC ASKS SHANGHAI GOLD, FUTURES EXCHANGES TO BOOST MANAGEMENT

Exchanging gold away from the all-seeing eye of government will not be tolerated...or perhaps it is just proper regulation and safeguarding of a rural public anxious to 'trade' their precious metals for Shanghai Condos...

Chart: Bloomberg