Mr. Gartman who all too often swings to and fro on gold (enough to make a frog's head twist), had this to say recently about gold and China's propensity to say one thing and do another (ahhh....kind of like Mr. Soros):

(Kitco News) -- Newsletter writer Dennis Gartman suggests that China may want to buy more gold despite publicly saying it is considering purchases of European debt to support those nations. “One must ask oneself what one would do if faced with large-EUR denominated debt holdings?” he says in The Gartman Letter. “Should one buy more and average down, or would it be better, at the margin, to quietly liquidate as one might and ‘swap’ those holdings for other assets…Given the uncommonly low levels of Chinese central-bank gold holdings when compared to those of the Fed, or the ECB, or the IMF or the ‘legacy’ central banks of Europe, the answer seems rather obvious: it would be better to swap EUR debt for gold… but quietly, very, very quietly. Further, it would be wise whenever queried on the subject by the international media, it would be wise to say, for very public consumption, that the Bank continues to support any and all efforts by the various European governments to resolve their differences and to restore order in the capital market and that we shall be there to help in any way possible…all the while selling, selling and selling some more, while buying gold and U.S.-dollar denominated investments.”