21.07.2015 - The biggest secret in the gold market for the past six years is revealed
One big mystery in the gold market has kept anyone interested in the precious metal guessing for the past six years: how much gold does China hold? Well, now we know. At the end of last week, China revealed the scale of its current gold holdings. And judging by the market reaction, it was a massive anti-climax… China’s hanging on to a lot less gold than anyone thought. In 2009, China held 1,054 tonnes of gold. Now China is holding 1,658 tonnes of gold. That’s a jump of nearly 60% on 2009. By sheer size of stash, this makes China the fifth-biggest holder of gold in the world, overtaking Russia. (France, Italy, Germany and the US hold more, with the US holding the most)...............................................Full Article: Source
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