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China central bank researcher says gold is only safe haven now

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Published : December 30th, 2011

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FOLLOW : Central Bank

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Category : GoldWire

Nation Urged to Increase Holdings of Gold

By Wang Xiaotian
China Daily, Beijing
Tuesday, December 27, 2011

http://www.chinadaily.com.cn/usa/business/2011-12/27/content_14332943.ht...

BEIJING -- China should further diversify its foreign-exchange portfolio and make more gold purchases when the metal's price dips but is still at a relatively high level, a senior central bank official said on Monday.

"The Chinese government should not only be cautious of the imported risk caused by rising global inflation, but also further optimize its foreign-exchange portfolio and purchase gold assets when the gold price shows a favorable fluctuation," said Zhang Jianhua, director of the research bureau affiliated with the People's Bank of China (PBOC).

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