Will China reveal its secret about the gold reserve?
Chinese gold does not let gold market participants sleep soundly and sparks rumours here and there. Some analysts believe Chinese gold reserves may exceed 3500 tons turning the Asian Giant into a more powerful country than already was.
Latest official data were published far back in 2009, and now one can only make guesses about the Chinese impact on the world gold market. At that moment Chinese gold reserves were 1050 tons. Is it possible for this number to have tripled during the last 6 years?
On the basis of gold production data and information provided by gold associations, the Bloomberg agency has estimated the approximate amount of gold reserves in 3510 tons. That would situate China in the 2nd place in the world top gold reserves rank after U.S. One of the theories why the Asian nation is concealing this information is precisely to become a competitor of USA in the market.
The reason why China could soon update this information comes from the expansion of the yuan worldwide. The country aims to introduce its currency in the International Monetary Fund basket to boost its presence in the general market.
The willingness of China to open its market has put it between a rock and a hard place and it could mean the revelation of the data thanks to which every country could play a fair game in the gold market.
Gold is gaining ground in the market and wakening the interest of more and more investors. The clients of the Emgoldex online store know the value of this precious metal as they earn with gold buying it under the most profitable conditions.
To learn how the role of gold is gaining importance in the world economy as well as in every individual’s financial situation, follow the news and changes in gold prices published daily on the official Emgoldex website.
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Category: Gold news Publication date: 2015-05-05 08:43
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