Commodity Trade Mantra

Posts Tagged ‘Bullion Market’

China Plans To Launch Renminbi Gold Fix By End of 2015

If the renminbi / yuan gold fix takes off, China could compel local buyers & foreign suppliers to pay the domestic renminbi price, making the London gold fix less relevant in the world’s biggest bullion market. China feels it is entitled to be a price-setter for bullion at a time when the global benchmark, the London fix, is under scrutiny for alleged price-manipulation.

Will the "Shanghai Fix" fix the Gold Market?

If the gold market has reached some sort of watershed wherein the amount of available gold begins to dwindle and possibly dry up entirely, then China’s strategic economic interest would best be served by higher global bullion prices – the so-called second leg to its long-term gold market strategy.

China Expands Gold Reserves, Surged Past Italy and France in Ranking

Claiming to have vaulted France and Italy in terms of gold reserves, China has announced that they have expanded their gold reserves by 76 % from the last reported holdings of 1,054 Tons in 2009, April to 2,710 metric tons currently, thus becoming 3rd largest gold reserves in the world.

Is There Any Gold Left in the Vault?

Not all the Gold recorded to be held in bullion banks is really there – Much of it has been pledged and re-pledged against the debt that keeps the world’s monetary system afloat

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