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<p>[QUOTE=&quot;desertgem, post: 1468472, member: 15199&quot;]Even this year China is only in the 70th percentile of gold owning nations with approximately 2% and yet the largest population. Russia and India tend to have close to 10% ( although accurate numbers are impossible to get ). In many opinions, including mine the reason China is doing this is to show they have gold to support their currency RMB, which they really would like to become the world&#039;s currency for commodity basis. They also see how the US and big Euro countries can easily print money that other countries will accept and they want to do this also. I do not think they are doing this to put their currency into a gold or silver based standard, nor as a fear/inflation reaction, but as a reserve of value they can use as collateral. Most likely they will practice buying/selling contracts and options, or even leasing it.. Also the mainland Chinese can own bullion in a &quot;bank account&quot;, but they can only deposit the currency to &quot;buy&quot; a quantity of gold which stays in their pass book as an asset, but if they wish to withdraw it, they get paper currency rather than the metal which stays at the bank. IMO</p><p><br /></p><p><br /></p><p><br /></p><p><a href="http://www.bochk.com/web/common/multi_section.xml?section=investment&amp;level_2=precious_metals&amp;fldr_id=251" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.bochk.com/web/common/multi_section.xml?section=investment&amp;level_2=precious_metals&amp;fldr_id=251" rel="nofollow">http://www.bochk.com/web/common/multi_section.xml?section=investment&amp;level_2=precious_metals&amp;fldr_id=251</a>[/QUOTE]</p><p><br /></p>

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