Goldman Estimates China Gold Buying Exceeded Reported Reserve Additions by 83 Metric Tons

Goldman Sachs estimated Chinese gold buying exceeded reported central bank reserve additions by 83 metric tons from May through August, a gap that reflects two different measures of demand. Goldman put the four-month estimate at 148 metric tons. The People’s Bank of China (PBOC) recorded 65 metric tons in reserve additions over the same period. The 83-metric-ton difference equals 128% of the additions, leaving Goldman’s estimate at more than twice the reported increase. The monthly figures show the widest gap in May, when Goldman estimated 48 metric tons of buying against about 10 metric tons in additions.

Source: TokenPost