Sunday, June 25, 2017

Tag: Gold Reserves

China Reserves Hover Above $3 Trillion on Government Support

China's foreign currency holdings remained above $3 trillion in December even as the yuan capped its steepest annual decline in more than two decades. Reserves fell $41.08 billion to $3.01 trillion, the People’s Bank of China said in a statement Saturday. That matched a $3.01 trillion estimate in a Bloomberg survey...

Song Xin: Increase Gold Reserves And Join SDR

The Chairman of the China Gold Association and General Manager and Party Committee Secretary of China National Gold Group Corporation, the latter being China's largest gold mining enterprise, is Song Xin and happens to be one of my favorite commentators in China. This gentleman made waves in July 2014...

China and Russia Continue to Add to Gold Reserves

Last week we reported that central banks were jettisoning US debt and buying gold. Figures released by the IMF this week indicate central bank gold hoarding has not abated. Russia and China both extended their prolonged buying spree in April. Russia added 16.2 tons to its reserves. China increased its holdings...

Gold Rush by Russia Makes Up for Billions Lost in Currency Rout

Here’s why Governor Elvira Nabiullina is in no haste to resume foreign-currency purchases after an eight-month pause: gold's biggest quarterly surge since 1986 has all but erased losses the Bank of Russia suffered by mounting a rescue of the ruble more than a year ago. While the ruble’s 9 percent...

Why are Russia and China Buying Gold, Tons of it?

Gold is one of the most fascinating of all rare metals. Throughout all history it has been given a special, at times sacred or spiritual value, since six thousand years ago when the Egyptian Pharoahs’ tombs were filled with it to accompany the dead on their journey. In times...

China boosts gold reserves by nearly 14 tonnes in October

Slowest pace of purchase since China started reporting mid-2015 Gold reserves at 55.38 million troy ounces at end-October Nov 30 China added nearly 14 tonnes of gold to its foreign exchange reserves in October, the slowest pace of purchase since the central bank started reporting its reserves of the precious metal...

Enhancing gold reserves conducive to yuan’s internationalization

HONG KONG - Experts attending a forum Monday on the theme of Gold and Currencies shared the view that enhancing gold reserves as well as the gold trading market is conducive to the internationalization of the Chinese currency yuan. Chan Sheung-chi, president of the Chinese Gold and Silver Exchange Society,...

China’s New Roads to Russia

I know of no comparable global Great Project to equal what is now unfolding, bit-by-bit, as China reveals more about her Silk Road Economic Belt high-speed railway infrastructure network. And it’s now clear that the road will be filled with entire new cities, industrial zones, construction, improving standards of...

China Aims For Official Gold Reserves At 8500t

China should accumulate 8,500 tonnes in official gold reserves, more than the US, according to Song Xin, President of the China Gold Association, General Manager of the China National Gold Group Corporation and Party Secretary. He wrote this in an opinion editorial published on Sina Finance July 30, 2014. Gold is...

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