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China Now Fifth in World Gold Holdings

In his article for Bloomberg Business Ranjeetha Pakiam takes a look at China’s recent accumulations in gold and how the country now compares in the world league table on gold holdings. He observes that there is a deliberate policy of increased transparency in China “as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan”.

  • China has overtaken Russia to become the country with the fifth-largest gold hoard
  • China’s accumulation of physical gold is being tipped to continue by market experts
  • Monthly reporting increases Chinese transparency after years of mystery

DAILY PRICES

Today’s Gold Prices: USD 1122.50, EUR 1000.08 and GBP 739.12 per ounce.
Yesterday’s Gold Prices: USD 1124.60, EUR 1001.16 and GBP 741.36 per ounce.
(LBMA AM)


Gold in GBP - 1 month

Gold closed at $1127.50 yesterday with a $4.40 loss on the day. Silver was up $0.05 at close to $14.64, a gain of 0.34%. Euro gold fell to about €1002, platinum remained at $914.


IMPORTANT NEWS

Gold ends lower for third straight session – MarketWatch
Platinum Extends Slide to Lowest Since 2008 Amid Demand Concerns – Bloomberg
Platinum poised for worst quarter in seven years on Volkswagen scandal – Reuters
Asia shares rally, but on track for worst quarterly loss in four years – Reuters
Traders Flee Emerging Markets at Fastest Pace Since 2008 – Bloomberg

IMPORTANT ANALYSIS

Banks should be afraid, disruption of financial services has only just begun – The Telegraph
World  set for emerging market mass default warns IMF – The Telegraph
Britain’s buy-to-let boom is a growing risk to the economy, could spark a house price crash – MailOnline
Obama Deifies American Hegemony — Paul Craig Roberts
It’s Time to Get Your Gold Out of the U.S. – Goldseek.com

Read more News & Commentary on GoldCore.com

 

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