China is now the world's largest producer and they are buying every ounce their mines can deliver. As I recall, their Central Bank has indicated their intent to increase their holdings substantially.

The last thing they want to do is get into a bidding war on the IMF gold. This would certainly escalate the price and assuredly devalue the billions of US dollars they are holding. This is not likely to change anytime soon as they continue to trade with the US.

As we know, China has seen a few Empires come and go, they are very patient, and are not in the habit of showing their cards to anyone, not even to their friends. I know, I have some :)

By the way Sculp, shouldn't this be on the off topic forum.