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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Is China heading to match the U.S. gold reserve level?

Posted on 13 November 2012

Surely the biggest non-news gold story of the day was the statement by David Gornall of Natixis, the London Bullion Market Association’s Chjairman, that gold is somewhat underrepresented in terms of the percentage of it held in China’s foreign reserves.
“When comparing China to the U.S., it would seem that in China, gold asset allocation can only go in one direction,” Gornall told the Association’s annual conference being held this year in Hong Kong. “The country has only 2 percent of its reserves in the form of gold compared with the U.S. at 75 percent.”……………………………………….Full Article: Source


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