China Now Fifth in World Gold Holdings

Published here: http://www.zerohedge.com/news/2015-09-30/china-now-fifth-world-gold-holdings
In his article for Bloomberg Business Ranjeetha Pakiam takes a look at China’s recent accumulations in gold and how the country now compares in the world league table on gold holdings. He observes that there is a deliberate policy of increased transparency in China “as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan”.

• China has overtaken Russia to become the country with the fifth-largest gold hoard
• China’s accumulation of physical gold is being tipped to continue by market experts
• Monthly reporting increases Chinese transparency after years of mystery

DAILY PRICES
Today’s Gold Prices: USD 1122.50, EUR 1000.08 and GBP 739.12 per ounce.
Yesterday’s Gold Prices: USD 1124.60, EUR 1001.16 and GBP 741.36 per ounce.(LBMA AM)

Gold in GBP - 1 month
Gold closed at $1127.50 yesterday with a $4.40 loss on the day. Silver was up $0.05 at close to $14.64, a gain of 0.34%. Euro gold fell to about €1002, platinum remained at $914.

IMPORTANT NEWS
Gold ends lower for third straight session – MarketWatchPlatinum Extends Slide to Lowest Since 2008 Amid Demand Concerns – BloombergPlatinum poised for worst quarter in seven years on Volkswagen scandal – ReutersAsia shares rally, but on track for worst quarterly loss in four years – ReutersTraders Flee Emerging Markets at Fastest Pace Since 2008 – Bloomberg
IMPORTANT ANALYSIS
Banks should be afraid, disruption of financial services has only just begun – The TelegraphWorld  set for emerging market mass default warns IMF – The TelegraphBritain’s buy-to-let boom is a growing risk to the economy, could spark a house price crash – MailOnlineObama Deifies American Hegemony — Paul Craig RobertsIt’s Time to Get Your Gold Out of the U.S. – Goldseek.com
Read more News & Commentary on GoldCore.com


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