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China’s Hunger for Gold Triggers Speculation About Reserves

Posted By admin On October 10, 2013 @ 10:20 am In Money Watch | Comments Disabled

Arpan Mukherjee
Wall St Journal [1]
October 10, 2013

China is on pace to consume a record amount of gold this year, which may be partly due to the central bank diversifying its foreign-exchange reserves, analysts say.

China imported around 861.40 metric tons of gold via Hong Kong in the first eight months of the year, more than double the 361.02 tons during the same period last year, new data from Hong Kong Census and Statistics Department showed. Imports from Hong Kong fell in August from the previous month but remained elevated, the data showed.

Gold prices [2] hit a three-year low in June but have since rebounded.

Full article here [1]

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URLs in this post:

[1] Wall St Journal: http://blogs.wsj.com/moneybeat/2013/10/10/chinas-hunger-for-gold-triggers-speculation-about-reserves/

[2] Gold prices: http://online.wsj.com/mdc/public/page/2_3028.html?category=Other&subcategory=Metals&contract=Gold%252520Comp.%252520-%252520comex&catandsubcat=Other%257CMetals&contractset=Gold%252520Comp.%252520-%252520comex&lc=int_mb_1001

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