Gold, the U.S. Dollar, and the Chinese Yuan :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "Commodities / Gold & Silver 2009
Jul 09, 2009 - 05:42 PM
By: Jennifer_Barry
In late April, a Chinese sovereign wealth fund, the State Administration of Foreign Exchange, announced that China had purchased 454 metric tons of gold over the past six years. Officials indicated that this increase was accomplished by tapping domestic mine supply and refining scrap gold. As China reported gold production of 282 t last year, the reserves have absorbed about 25% of this output since 2003."
Jul 09, 2009 - 05:42 PM
By: Jennifer_Barry
In late April, a Chinese sovereign wealth fund, the State Administration of Foreign Exchange, announced that China had purchased 454 metric tons of gold over the past six years. Officials indicated that this increase was accomplished by tapping domestic mine supply and refining scrap gold. As China reported gold production of 282 t last year, the reserves have absorbed about 25% of this output since 2003."
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