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China boosts gold reserves 1% in August, diversifying assets
By Ranjeetha Pakiam
Bloomberg News
Wednesday, September 30, 2015
China boosted central bank gold holdings 1 percent as the country that rivals India as the world's largest bullion consumer seeks to diversify its foreign exchange reserves.
The hoard rose to 54.45 million troy ounces in August from 53.93 million ounces a month earlier, according to data released by the central bank on Wednesday. China ended six years of mystery surrounding the holdings in July, revealing a 57 percent jump since 2009 and overtaking Russia to become the country with the fifth-largest stash.
China has joined Russia and Kazakhstan in increasing gold assets and is reporting its position monthly, showing a shift toward greater transparency as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2015-09-30/china-increases-gold-r...
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