China's gold buying may be far larger than official data shows

BIG: China may be accumulating significantly more gold than its official figures suggest.
China reportedly acquired an estimated 88 tonnes through the OTC market in May and June alone, while its reported total gold reserves reached a record 2,366 tonnes.
If the estimates are accurate, the purchases suggest China's underlying demand for gold remains much stronger than headline central-bank data indicates.
Continued accumulation would reinforce the broader trend of reserve diversification and growing demand for hard assets.