Sunday, December 26, 2010
China's official gold reserves are seen to be being effectively held at whatever level the country's government thinks is of political and financial advantage.From Mineweb.com
Author: Lawrence Williams
Posted: Thursday , 23 Dec 2010
Is China increasing its gold reserves but without reporting it, yet again? Or is this pure market speculation? The odds would favour the former, but the markets just won't know until the Chinese announce the fact at a point in time of their choice. Such an announcement is politically very sensitive, and if several hundred tonnes of gold have indeed quietly and surreptitiously been moved into the Asian giant's coffers, which this writer feels is more likely than not, then news of this could have a very sharp upwards price impact for the precious metal.......read on
I hope all our blog readers had a wonderful Christmas and are looking forward to an exciting 2011.