Rookie - I have also been waiting for news as this will drive the price of gold up big time - just like when India bought. Apparently China was peeved when India scooped them on the last purchase and have been rumoured to be in line for the next half. My guess the problem is about the "loss of face" . If China pays more than the $1050 or so that India paid then it may be construed that they lost face to the Indians. I think that China "allowed" the gold cartel to take down the gold price in order to ensure they could buy at a lower price than India. Now that gold looks like its on the way to 1100 - I don't know what will happen.