The fact that they have revealed that they are buying gold and probably other precious metals ( they make no secret of accumulating industrial metals) all that changes little. They have been buying gold for at least a year and probably much longer.

What is significant is that they have been buying on the sly and only now have officially said so because the jig is obviously up.

What the sellers in their stupidity have done is made it possible for China to get their PMs at a lower price.

Some what similar to the action with ECU shares. Would anyone agree?

Cheers to the buyers.