You are here
China's gold-buying spree comes to an end after 10 months
If you believe that public reports tell the whole story.
* * *
By Ranjeetha Pakiam
Bloomberg News
Thursday, November 7, 2019
China just hit the pause button on its gold-buying spree.
The People's Bank of China kept holdings level 62.64 million ounces in October, unchanged from a month earlier, according to data on its website today. That holding pattern follows 10 straight months of accumulation that have boosted the nation's stockpile by more than 100 tons.
Central-bank purchases have been an important feature of the global market this year, with official sector demand helping to support gold prices and offset a drop in demand from consumers. The backdrop to Beijing’s accumulation has been the nagging trade-war with the U.S., which has hurt growth. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2019-11-07/china-hits-pause-butt...
USAGold: Coins and bullion since 1973
USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.
Please call 1-800-869-5115x100 and ask for the trading desk, or visit:
USAGold: Great prices, quick delivery -- all the time.
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:
