China's Gold Buying Exceeds Official Reports
Goldman Sachs estimates China purchased 25 tonnes of gold in August via London OTC markets — 25% more than the 20 tonnes officially reported — continuing a streak of undisclosed accumulation.
What we know
An account on X reported Goldman estimates that China bought 25 tonnes of gold in August via London OTC, 25% above the official +20 tonnes figure from the People's Bank of China. This follows estimated undisclosed purchases of +35, +40, and +48 tonnes in prior months. Despite the surge in ETF and central bank buying, another account on X noted gold prices are actually declining — a somewhat paradoxical dynamic reflecting broader risk-off moves or dollar strength.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.