Good point about the transparency. That's also true about the amount of gold that China holds – as opposed to the amount that it claims to hold.

It claims to have only about 2000 tons of gold. But most people believe that it actually has multiples of that, maybe as much as 8000 tons.

For over a decade now, China has been buying more and more gold. But its officially reported holdings have not increased. The simply math indicates that they're not being honest or transparent about it.