china / gold

So ICBC won’t change the gold price – or not just because it buys this seat. China, though? China is already supporting the gold price through central bank reserves, individual consumption and a love of the physical metal as much as its investment potential. China’s role in gold is only going to grow, and a role in the twice-daily fix is merely an accurate reflection of an existing reality.

http://www.forbes.com/sites/chriswright/2014/02/20/china-seeks-seat-on-gold-fix-table-what-does-it-mean-for-the-gold-price/