Tag Archives: chinese gold
After six years, China finally revealed its “total” gold hoard today in a statement issued by the PBOC (People’s Bank of China). The grand total? 1,658 metric tons, placing the country in 5th place worldwide. It’s an increase of more … Continue reading →
“China has set up its largest gold-investment fund ever, expected to total 100 billion yuan ($16 billion), aiming to invest in mining projects in the region and enhance Chinese influence in global gold markets, local media reports said Wednesday.”
The largest bank in the U.S., JP Morgan Chase, has made two disturbing moves in recent weeks that should give many Americans significant cause for worry. It isn’t yet known what the reasons behind these moves are, but one thing … Continue reading →
Is it a coincidence that just as gold breaks through the key mark of $1225, the World Gold Council releases their latest report on Q1 global gold demand– indicating a decrease of 1%? If the price of gold is going … Continue reading →
The establishment of a China-based gold fix for the yuan also marginally undermines the dollar as the global benchmark currency, says Jan Dehn, an economist with the Ashmore Group in London, a $70 billion asset management firm.
China National Gold Group Corporation announced on Monday it has signed an agreement with Russian gold miner Polyus Gold to deepen ties in gold exploration.
(Reuters) – China conducted trial runs for the planned launch of a yuan-denominated gold fix last month, three sources familiar with the matter said, in a sign the world’s second-biggest bullion consumer was moving closer to creating a benchmark price.
For the second week in a row, gold withdrawals from China’s Shanghai Gold Exchange (SGE) have been at around 50 tonnes – a high level for the post Chinese New Year period. Withdrawals from the exchange for the first 16 … Continue reading →
The Shanghai Gold Exchange released a report on January 3rd that showed a huge rush for wholesale purchases of the precious metal during the last 3 days of December. 29 tonnes of gold were withdrawn on the SGE during a … Continue reading →
Despite all of the reports from the World Gold Council that the yearly gold demand in China was falling, the Chairman for the Shanghai Gold Exchange let it slip in a recent speech that last year, the consumer demand for … Continue reading →