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September Gold News 2019


China’s gold reserves continue to grow as trade war strains economy

China’s gold reserves continue to grow as trade war strains economy

Official data from China’s Central Bank shows that the country has now added 99 tonnes of gold to the nation’s reserves as of the end of August, worth an estimated $7.574 billion.

Given that gold has made 12.48% gains in the past three months in Dollar terms, and 25.06% for the past year, it’s unlikely that the People’s Bank will slow down its hunt for buying gold – especially when they are keen to avoid the US Dollar in their reserves, and will have little interest in the fragile Sterling or Euro currencies.

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