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China’s next gold announcement may be tied to SDR move this year – Koos Jansen
TND Guest Contributor: Chris Powell |
Bullion Star market analyst and GATA consultant Koos Jansen today cites indications that the inclusion of the Chinese yuan in the International Monetary Fund’s “special drawing rights” basket this year will be connected to China’s announcement of a substantial increase in its gold reserves. Jansen notes statements of Chinese policy that gold acquisition is crucial to the country’s economic development, and infers from those statements that China’s next reserves announcement will claim more gold than Germany, the world’s second-largest purported gold holder, but less reserves than the United States, the largest purported gold holder, even as surpassing the United States in gold reserves remains China’s long-term objective. Jansen’s analysis is headlined “When Will China Disclose Its True Official Gold Reserves and How Much Is It?” and it’s posted at Bullion Star here:
https://www.bullionstar.com/blogs/koos-jansen/when-will-china-disclose-i…
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About Chris Powell:
Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here. This article is reprinted on The News Doctors with permission.
Source: http://thenewsdoctors.com/chinas-next-gold-announcement-may-be-tied-to-sdr-move-this-year-koos-jansen/
