China’s Long Term Gold Reserve Increase Strategy Surprises
The State Administration of Foreign Exchange announced that China’s gold reserves now equal 1054 tons, grabbing the market’s attention and showing that China is beginning to raise its gold reserve as its long-term strategy, not only as an important tool to hedge USD risk, but also to bolster RMB’s globalization with its increased gold reserve.
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Tue, Apr 28, 2009
Post by Melissa Pistilli, Gold Senior Reporter