China reports another increase in gold reserves

Section:

China Reveals Increase in Gold Holdings

By Henry Sanderson
Financial Times, London
Friday, August 14, 2015

China released data on its gold holdings for the second time in a month on Friday, in a sign of greater transparency as it moved to an international standard of reporting its reserves.

The People's Bank of China said it bought 19 tonnes of gold last month as prices traded at their lowest levels in five years. That boosted its gold holdings to 1,677 tonnes (53.93 million fine troy ounces) at the end of July, an increase of 1 per cent.

The announcement as the International Monetary Fund concludes talks this year about inclusion of China’s currency in its Special Drawing Rights (SDR), the IMF-created currency.

Inclusion in the SDR would help Beijing’s bid to win much-prized reserve currency status for the renminbi alongside the dollar, euro, yen and sterling.

In July the PBOC started reporting its reserves under the IMF’s Special Data Dissemination Standard. Countries using that standard report their gold holdings monthly.

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/942ac8ee-4260-11e5-b98b-87c7270955cf.html



ADVERTISEMENT

USAGold: Coins and bullion since 1973


USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.



Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

https://jeffersoncompanies.com/landing/gata

The Silver Summit and Resource Expo 2015
Hyatt Regency Hotel, San Francisco
Monday-Tuesday, November 23-24, 2015

http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2...

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16