You are here
China announces gold reserve increase for sixth straight month
China Gold Reserves Climb for Sixth Month in May
By Alice Woodhouse
Financial Times, London
Monday, June 10, 2019
https://www.ft.com/content/ca50aa10-8b18-11e9-a1c1-51bf8f989972?desktop=...
China increased its gold purchases for the sixth month running in May, taking its total reserves to 1,916 tonnes, while the country's foreign exchange holdings defied expectations for a fall.
The People's Bank of China bought 15.6 tonnes of the precious metal last month, according to the central bank.
... Dispatch continues below ...
Hedging Against Volatility: Should You Consider Gold?
As investors look for ways to better manage risk and returns, one option could be to add gold to a portfolio. The yellow metal has historically moved in the opposite direction of the stock market and is often perceived as a safe-haven asset. There are many ways to invest in gold: through miners, explorers, physical gold, exchange-traded funds, and more.
In their upcoming webcast, U.S. Global Investors and ETF Trends will take a deep dive into investing in gold, highlighting a fund strategy as well as royalty and streaming companies, which many consider to be the "smart money" of the space.
The webcast will begin at 2 p.m. Eastern time, 11 a.m. Pacific time, on Thursday, June 27. To register to attend, please visit:
https://www.etftrends.com/webcasts/hedging-against-volatility-should-you...
The country has accumulated 74 tonnes of the precious metal since the end of November, when it initially began ramping up purchases, according to Refinitiv data. The value of its reserves has risen to $79.8 billion as US-China trade tensions have rumbled on.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
