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China reveals its secret gold hoard

General Angela Calla 3 Dec


Early this year, people speculated that China, which does not regularly
reveal gold data, was a key force driving the market higher this year
10-6> . It turns out they are.                       The Shanghai Gold
Exchange revealed today it had imported nearly 500% more gold in the
past ten months than it did in all of last year, according to Bloomberg
-fivefold-as-inflation-outlook-spurs-demand.html> . That’s 209 tonnes of
gold already, compared to 45 tonnes last year.
Chinese are buying gold as a check against rampant inflation. Moreover,
it’s a way to check inflation while keeping the yuan low and continuing
the currency war
=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29> .