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Main » 2015 » December » 9 » China buys gold
10:54
China buys gold
 
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China increased its holdings of gold reserves in November 21 metric ton - 5-month high amid falling metal prices to 2-year low - on materials AMarkets.


 

AMarkets

By the end of last month, the valuation of investments in China in November, the metal was $ 59.52 billion against $ 63.26 in late October. This amount corresponds to 56.05 million troy ounces, or 1,743 tonnes of physical metal - Data Association London Bullion Market Association (November 30). In October, the amount corresponded to the figure of 55.38 million ounces. Gold prices fell 6.8% in November - is the maximum monthly drawdown since June of 2013.


China continues to diversify reserves. Interest number one - gold on a background of falling prices. In October, China's gold reserves increased by 14 tons to 15 tons in September and 16 tonnes in August, and 19 tons in July. Since 2009, investments in the gold reserve of the Bank of China increased by 57%! However, so far only 1.6% of the reserves of China in the yellow metal. For America, the proportion of gold in reserves is 73%, Germany - 67% - Data World Gold Council. It can be assumed that China will try to catch up with them. 

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