You are here

China boosts gold reserves 1% in August, diversifying assets

Section: Daily Dispatches

By Ranjeetha Pakiam
Bloomberg News
Wednesday, September 30, 2015

China boosted central bank gold holdings 1 percent as the country that rivals India as the world's largest bullion consumer seeks to diversify its foreign exchange reserves.

The hoard rose to 54.45 million troy ounces in August from 53.93 million ounces a month earlier, according to data released by the central bank on Wednesday. China ended six years of mystery surrounding the holdings in July, revealing a 57 percent jump since 2009 and overtaking Russia to become the country with the fifth-largest stash.

China has joined Russia and Kazakhstan in increasing gold assets and is reporting its position monthly, showing a shift toward greater transparency as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2015-09-30/china-increases-gold-r...



ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata



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
Park Central Hotel, San Francisco, California
Monday-Tuesday, November 23-24, 2015

http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2015

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