China Imports More Gold From Hong Kong In Five Months Than All Of UK's Combined Gold Holdings

Submitted by Tyler Durden on 07/10/2012 - 14:30 China Citigroup Crude Crude Oil default Goldman Sachs goldman sachs Hong Kong India International Monetary Fund Iran Renminbi SWIFT Turkey United Kingdom World Gold Council

There are those who say gold may go to $10,000 or to $0, or somewhere in between; in a different universe, they would be the people furiously staring at the trees. For a quick look at the forest, we suggest readers have a glance at the chart below. It shows that just in the first five months of 2012 alone, China has imported more gold, a total of 315 tons, than all the official gold holdings of the UK, at 310.3 according to the WGC/IMF (a country which infamously sold 400 tons of gold by Gordon Brown at ~$275/ounce).