the interesting question is: why announce this now?
Large scale hoarding of gold by China may have been partly responsible for the near tripling in prices of the yellow metal in the past six years. Figures released by the country’s State Administration of Foreign Exchange shows Beijing boosted its gold reserves by 76% since 2003 to become the 5th largest holder of gold in the world.
China now has 1,054 tons of gold after adding 454 tons in the past six years
The Times of India
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