china

In the runup to the Chinese New Year (which in 2018 falls on February 16th), the country’s gold imports tend to pick up and this year is . . . .

One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards . . . .

As we reported both here and here, gold is the answer going forward. How we the people will access physical gold or if we will be able to access physical gold is really the only remaining question . . . .

Russia’s Far East Development Fund and China’s state-owned gold mining company, China National Gold Group, are to sign an accord by the end of this year on setting up a joint US$1 billion investment fund targeting new projects in the metals and mining sector . . . .

Perhaps the biggest unknown in assessing global gold consumption in this, or any, year is the true level of Chinese gold consumption . . . .

Commodity prices stormed higher in the decade to 2012, fueled by a mismatch between Chinese demand and global supply, creating supply shortages that led to substantial gains in many commodity markets . . . .

According to the People’s Bank of China – the country’s central bank – the Asian economic giant’s gold reserves have now remained unchanged for 11 straight months - indeed ever since the nation’s currency – the yuan or reminbi – was admitted by the IMF as an integral constituent of that entity’s Special Drawing Right (SDR) . . . .

China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association . . . .

The largest Russian bank, Sberbank, is planning to increase the supply of gold to China up to 10-15 tons in 2018. Keeping in mind that both the Russian ruble and Chinese yuan are covered by gold, this step is a part of the “de-dollarization” of their economies . . . .

Rising demand for silver in two of the world’s largest consumers, China and India, since the beginning of this year is seen raising hopes of a better price performance for the metal . . . .