Russia's central bank is buying gold. A lot more gold. Take a look at the chart.
Russia's central bank purchased another 37.33 tonnes of gold in September, bringing its gold holdings to almost 1,150 tonnes and is the seventh month in a row it has increased it gold reserves, and noticeably its biggest monthly increase yet.
Story #2: Gold Miners Are Hedging Gold Production Forward.
This is mainly due to the Russians as well. The volume of gold sold forward by mining companies jumped 61 percent in the second quarter after Russia's Polyus Gold added a major new hedge position.
Story #3: China Consumed More Than Twice as Much Gold in 2013 as the World Gold Council Estimated.
The World Gold Council offered its assessment at 1,066 tonnes. Koos Jansen just translated the the 2014 China Gold yearbook by the China Gold Association, and he came up with 2,199 tonnes.
What's more, while China is consuming less gold this year, "the country’s gold demand this year looks to be heading for close to 1,900-2,000 tonnes a fall of perhaps around 10-15%, far short of some of the big decline figures quoted by non-gold-savvy media wonks."
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