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POSTED ON January 24, 2019  - POSTED IN Key Gold Headlines

China officially added gold to its reserves last month for the first time in two years. Meanwhile, the Chinese have been shrinking their holdings of US Treasuries. According to the Nikkei Asian Review, the moves are intended to reduce dependence on the US dollar.

According to data released by the People’s Bank of China, the country’s gold reserves totaled 1,862 tons at the end of 2018. That represents a 10-ton increase from the previous month and the first rise in the country’s hoard since June 2016.

POSTED ON September 4, 2018  - POSTED IN Key Gold Headlines

The Reserve Bank of India (RBI) bought gold for the first time in nearly a decade during its last fiscal year.

The Indian central bank added 8.46 tons of gold during the fiscal year ending June 30, according to its latest annual report. The additional yellow metal brings India’s total gold reserves to 566.23 tons.

The last time the RBI bought gold was in November 2009. The Economic Times of India called the central bank’s decision to add to its gold reserves “significant.”

POSTED ON January 11, 2018  - POSTED IN Key Gold Headlines

Ding.

They say bells never ring when markets hit the top. But maybe they do and people just don’t listen.

Yesterday, Bloomberg reported China may slow or even stop its purchase of US Treasuries. In other words, a major source of US government debt financing may be pulling out. This comes at the same time the Federal Reserve has committed to shrinking its balance sheet. 

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