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China Increasing Gold Holdings at Steady Pace
The Chinese central bank continues to increase its gold holdings at a steady pace.
Figures released by the People’s Bank of China indicate its gold stash went up another 1% in September, according to a Reuters report:
Gold reserves rose by 480,000 fine troy ounces, or 14.9 tons, to 54.93 million ounces, or 1,708.5 tons at the end of September, the People’s Bank of China (PBOC) said.”
This follows a trend we’ve seen ever since China announced its gold holdings for the first time in nearly six years last summer. The central bank added 16.2 tons in August and nearly 19 tons in July, a steady 1% increase each month.
The post China Increasing Gold Holdings at Steady Pace appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/16/china-increasing-gold-holdings-at-steady-pace/
