Last March we wrote an article outlining the development of the Chinese gold market. The Chinese Politburo has deemed gold to be a strategic asset for decades, and it has consciously worked to develop its gold market, build up its gold reserves, and develop a gold mining industry. These developments were relatively nondescript for a long time, from the late 1970’s/early 1980’s until about the start of “the Great Recession.” Over the past few years these efforts have begun to bear fruit. The Shanghai Gold exchange is now the largest gold exchange in the world. The Chinese mine more gold than any other country. Chinese gold imports are hitting record levels and place a tremendous dent in global mine supply. The Chinese exert a lot of influence on the gold market now, and their agenda is much different from the Western agenda regarding the gold market. In the West gold is
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