China could actually be holding as much as 30,000 tonnes of gold in various government accounts and that within the next three years the nation will link the yuan to gold.
An increase in net gold exports to mainland China in January partly confirms the continuing strong demand.
The IMF says Kazakhstan boosted its gold holdings to about 193.5 metric tons in January, while Ukraine added to holdings for the first time since August, and Russia trimmed assets for the first time since March.
The World Bank’s International Centre for Settlement of Investment Disputes (ICSID) tribunal last year determined Venezuela must pay the Toronto-listed gold mining company $740.3 million for terminating its Las Brisas gold concession in 2009.
When copper starts to bottom, it clearly reflects growth in China and the world.
Another 53.7 tonnes of gold withdrawn from the Shanghai Gold Exchange in the final week of January. Chinese gold consumption is far, far higher than the estimates supplied by mainstream analysts and it may not be being taken that seriously by the institutional market but after the latest U.S. jobs data we think that the U.S. Fed will start raising interest rates by the middle of the year.
Switzerland is the world’s largest single exporter of gold with 1,746 tonnes leaving the country in 2014 and a big chuck of the precious metal went to China.
The Chinese government acknowledged gold as a strategic asset in 2000, when it included the establishment of an open gold market in its five year economic plan. Since then China has come to play a significant role in the international gold market as it strives to develop and advance all aspects of the industry and gold’s role in the domestic market. This investigative research and analysis from gold experts delves on China's efforts in building solid foundation for its rise and why it has decided to focus on building and developing the gold industry from both a supply and demand perspective.
Ben S. Bernanke, the world’s most- powerful central banker, says he doesn’t understand gold prices. If his peers had paid attention, they might have stopped expanding reserves that lost $545 billion in value since bullion peaked in 2011.
JPMorgan Chase & Co is following a move by rival Goldman Sachs Group Inc to explore sales of its metal warehouse business.