when the chinese nibble becomes a bite

Chinese nibbling at gold?

The Chinese interest building in gold could have a dramatic effect on the s/p of this China based goldmining company.

Up 8% today with more to come .... imo

"China has almost certainly been nibbling in the gold market as they attempt to gradually diversify out of dollars and into gold. Especially in light of the fact that they have less than 1% of their currency reserves in gold unlike most western nations whose gold reserves are very significant percentages of their overall reserves.

Despite having the largest foreign currency reserves in the world, they are only 9th in terms of central bank gold reserves and this will change in the coming years as they rebalance and diversify their foreign exchange reserves .... "

http://www.gold-eagle.com/editorials_08/obyrne021109.html