China to announce gold reserves have doubled
Duncan Richardson, News Editor
20 Jan 2014, 1:13 p.m.
According to industry expert Jeffery Nichols, “China may soon announce an increase in its official gold reserve from 1,054 tons to 2,710 tons.” The Peoples Bank of China (PBOC) have not reported on their gold reserves since 2009. The PBOC bought 654 tons between 2009 and 2011, 388 tons in 2012 and a further 622 tons in 2013.