View Single Post
Old 03-10-2010, 06:06 PM   #3
peaceandlove
Avalon Senior Member
 
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Default Re: IMF sells 191 tons of gold to China

Bob Chapman has been mentioning this would happen soon.

Now China's talking gold down, maybe wanting to get more cheap

Submitted by cpowell on Tue, 2010-03-09 Section: Daily Dispatches
China Cautious on Gold Buying

By Aaron Back
The Wall Street Journal
Monday, March 8, 2010

http://online.wsj.com/article/SB1000...11062192079093...

BEIJING -- China's chief foreign-exchange regulator suggested the country's appetite for further gold purchases may be limited and offered soothing words about China's role as an investor in U.S. Treasurys.

"Gold is not a bad asset, but currently a few factors limit our ability to increase foreign-exchange investment in gold," said Yi Gang, director of China's State Administration of Foreign Exchange. He said gold doesn't offer good long-term returns due to price swings.

China rarely reveals its thinking on its investment of its foreign-exchange reserves, which at $2.4 trillion is the world's largest. The issue of China's gold holdings has been highlighted since the global financial crisis as the dollar's movements have prompted academics and officials outside SAFE to recommend more diversification of China's reserves from U.S. Treasurys.

Continues: http://www.gata.org/node/8411

Last edited by peaceandlove; 03-10-2010 at 06:17 PM.
peaceandlove is offline   Reply With Quote