How Much Gold Will China Add to Its Reserves?

Gold Investment - 12 September 2011

It looks like China is serious about adding to its gold reserves. This statement is backed up by recent reports that express that China wants to increase its gold supply from the rather modest tally of 1054 tonnes of this precious yellow metal. The big concern is what price China would have to pay to make this become a reality.

Invest in precious metals today! Contact us for details.

Invest in precious metals today! Contact us for details.

China has tiny amount of gold in its collection of foreign reserves only 1.6 percent and now has indicated that it wishes to increase this. Even though 1054 tonnes might seem modest to most people, China is ranked sixth in the world regarding countries which hold gold reserves. Countries such as Russia and India hold more than seven percent of their reserves in gold, and this percentage is ever increasing.

Invest in precious metals today! Contact us for details.

Invest in precious metals today! Contact us for details.

Traditionally, China has been quite sneaky about accumulating gold over time. This is highlighted by the fact that in 2003, China only had 600 tonnes of gold but in 2008, the market was surprised to discover that this figure had almost doubled to 1054 tonnes. It is unclear as to how China managed to achieve this. However, it is speculated that it was due to a big buyer of British Treasury gold during auctions during the time frame 1999-2009. It was at this time that Gordon Brown had managed to move about 400 tonnes of the metal.

<< Previous    [1]  2  3    Next >>