There is also potential for China to ramp up their gold buying again
Apparently, the high gold price is what deterred China from continuing to stockpile in May + June However, the price of gold has continued to increase without their purchases - and is forecast to continue to increase. Will they keep waiting or will they start buying again?
China's gold reserves need to rise in absolute and relative terms because they do not match the status of the world's second-largest economy and gold's share of its reserves is the lowest of any major economy, said a Chinese policy insider involved in internal discussions who declined to be named due to the sensitivity of the matter.
SPR Price at posting:
$1.05 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)