At the end of last year, China became the world’s second largest diamond consuming market. More Chinese people not only buy diamonds as a luxury, but also hold them as an investment.
As Western central banks continue their manipulation of the gold price in order to prop up flagging fiat currencies, two of the world's largest bullion hoarders are fashioning their own gold market which will function outside the dollar system.
Amid a currency and credibility crisis The People's Bank opts for transparency by updating its official gold purchases – only the second time since 2009.