China - China gold demand soaring even more than you thought

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China gold demand soaring even more than you thought

Wednesday, December 02, 2009
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By Daily Crux Editor Justin Brill:

The Chinese rush into gold continues…

Reports coming from the Middle Kingdom claim a Chinese study group recommended the government increase its gold reserves to 6,000-10,000 tonnes in the coming years.

As of April, China reported it held 1,054 tonnes in gold. The high end of the recommendation would mean a more than nine-fold increase in holdings. It's a source of tremendous buying power for the metal.

Read full article...

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Topics:		China \| Gold \| Commodities

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