Read this in Ed steer's column.

Seems Asia is hording all the Gold now!

Asian people just love their Gold.

At least we get most of the silver as we do not have much Gold left in the western world..Hmmm..maybe Jim & Gary should start producing more for us here!

Maybe Throw in a little more from them new Narrow veins we found a while back. Then we will get a higher yeild of P.M.'s in our concentrate.

cheers

The big news yesterday were the August gold import numbers for China. Here are the updated charts courtesy of Nick Laird over at sharelynx.com. The first one shows the monthly import data, and the second one is the yearly import data, with the bar for 2013 representing year-to-date imports.

If they keep up this pace, China will import around 1,200 tonnes of gold through Hong Kong in 2013, which represents about half of all the gold that will be mined this year. And those are the gold imports we know about, plus they absorb the 400+ tonnes a year of their own mine production on top of that.

Along with Indian imports, these two countries on their own will absorb about 90% of world mine production this year. This prima facie data begs the question: What central bank vaults are providing the physical gold demanded by every other country on Planet Earth this year?