People’s Bank of China

The People's Bank of China has added 604 tonnes of gold, worth US$22 billion at current prices, since 2009. Photo: Reuters

As Beijing reveals modest gold hoard, bulls cry out for more

Six years ago, when Beijing last unveiled how much gold was sitting in its central bank vaults, mainland industry figures and global gold bugs were convinced it was on the brink of a buying spree that could transform the market.