China Boosts Gold Reserves 1% in August, Diversifying Assets

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

You can read the full article on Bloomberg Business

DAILY PRICESToday’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.

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