Never forget that the media in China is controlled by the Communist Party. That means that you should pay careful attention to the official state news because it usually paints an accurate picture of things to come.
The latest news story is that the Chinese central bank is ‘considering’ increasing their gold reserve from the current 600 tons to 4,000 tons, a whopping 700% increase.
The gold market is really quite small so that type of volume buying could have a big impact on gold prices.
Related Posts
- China boosts gold reserves (04/24/09)
- China offical bullish on gold (05/29/08)
- India loading up on gold (11/09/09)
- Chinese buying gold (06/04/09)
- China to buy more gold? (11/13/08)
