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Don’t Look Now But China’s Gold Reserves Have Doubled
Marketwatch
Chris Oliver
4/24/09
China has boosted its gold reserves to 1,054 metric tons, according to a Friday report by Xinhua News Agency, which cited Hu Xiaolian, head of the State Administration of Foreign Exchange.
The increase makes China the world’s fifth-largest holder of gold, just ahead of Switzerland, and among the six nations plus the International Monetary Fund that have reserves of more than 1,000 metric tons.
Hu said that China’s gold reserves had risen by 454 metric tons since 2003 and that the total was being reported to the IMF per the organization’s rules.
The comments are China’s first public acknowledgement…
27Apr2009 | The Real Deal | 0 comments | ContinuedLou Paquette: Gold Will Be The Last Man Standing
Source: The Gold Report
The Gold Report caught up with newsletter writer and commentator Lou Paquette, who launched the website Emerging Growth Stocks in 1995 to provide investors and speculators with a unique alternative to what he saw was a growing problem with corporate governance and conflict of interest on Wall Street. He believes that as people finally begin to realize that gold is the only asset we can count on any more, the bull market will "come out of its shell." He shares some of his favorite mining companies that are well-positioned to ride out these turbulent times.
The Gold Report: Lou,…
21Feb2009 | The Gold Report | 0 comments | ContinuedGold Investments Market Update – FT Reports that Counter Party Risk May Lead to Potential Squeeze in Gold Market by End of Year
Gold rallied sharply last week and was up nearly 9% despite continuing uncertainty and a very mixed performance in stock markets. The US dollar index fell some 4% on the week and it looks increasingly likely that the dollar may have topped out and may soon resume its bear market. For the year, gold is now up by more than 4% in dollar terms and by much larger amounts in euro (+11.7%) and pounds (+40.4%).
Gold rallied sharply on the open in Asia and has remained elevated as oil is stronger (up some 4%) and the dollar remains weak.
The FT reported…
15Dec2008 | The Gold Blog | 0 comments | ContinuedGovernment Gold Control
Operation Meltdown, Part II:
Hoarding for War, Vaulting for Victory
It seems an odd quirk of history that Washington’s post-War obsession with its nationalized gold reserves — an obsession which Ian Fleming neatly tapped into with Goldfinger in 1959 — came so long after what historians call the “classical†Gold Standard ended.
Indeed, central bank gold reserves worldwide rose almost five-fold over the 50 years following the start of WWI in 1914 — the date traditionally given as the death of the international Gold Standard.
That system, running roughly between Bismarck’s defeat of France in 1871 and the bloody stand-off at Ypres a half-century…
9Sep2008 | Whiskey and Gunpowder | Comments Off | Continued
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