Mining Stock Valuator
Menu
GOLD 3363.39 +1.22%
SILVER 38.09 +3.09%
  • HOME
  • ABOUT
  • LOGIN
  • SIGN UP
More news

China Discloses Its Gold Holdings

Wall Street Journal - Jul 17, 2015
China offered a rare peek into its financial system on Friday, releasing an update on its gold reserves for the first time in six years.

At the end of June, China’s gold holdings totaled 53.32 million troy ounces, up 57% from the end of April 2009, the last time the People’s Bank of China reported reserves.

China’s hoard puts it in the top five for government holdings of the precious metal. The U.S. has 261.5 million ounces of gold, followed by Germany, Italy and France, based on data from the International Monetary Fund. China now eclipses Russia and Switzerland in terms of reserves.

Gold futures prices fell to a five-year low Friday, as stronger economic data boosted investors’ expectations that the U.S. Federal Reserve will raise interest rates in 2015. The precious metal doesn’t pay interest or dividends and would struggle to compete with yield-bearing assets when rates climb. The most actively traded contract, for August delivery, fell $12, or 1%, to $1,131.90 a troy ounce on the Comex division of the New York Mercantile Exchange, the lowest close since April 1, 2010.
Full article
Mining Stock Valuator
© 2025 Mining Stock Valuator
Facebook Twitter YouTube
  • Terms of Use
  • Privacy Policy
  • Contact Us