China’s Gold Reserves Rise In July
$GLD
China’s Gold reserve rose 1.16% to 1,677.3 tonnes at the end of July from 1,658 tonnes the end of June, according to the latest data from the People’s Bank of China (PBOC).
China’s Gold reserve rose nearly 60% to 1,658 tonnes at the end of June from the previous figure released at the end of April 2009, when the amount was 1,054 tonnes.
Gold prices have retreated from a historic high in recent years and the central bank gradually accumulated the reserves through various channels, according to the PBOC.
The channels include domestic scrap Gold, production storage and trade in domestic and overseas markets.
China ranks the 5th in Gold reserve worldwide after the United States, Germany, Italy and France, according to the World Gold Council (WGC).
Have a terrific week.
HeffX-LTN
Paul Ebeling
The post China’s Gold Reserves Rise In July appeared first on Live Trading News.