China breaks silence on gold reserves
Published 12:31 AM ET Sat, 18 July 2015
China ended years of speculation about its official gold holdings by revealing an almost 60 percent jump in its reserves since 2009. The country's central bank said its gold reserves were 1,658 tonnes (53.31 million fine troy ounces) as of the end of June. In April 2009, reserves were 1,054 tonnes. The purchases show how China is seeking to diversify its reserves away from the US dollar at a time when the price of gold has fallen to near its lowest price since 2010. But that task has been complicated by the rapid growth in China's foreign exchange reserves, which are the world's largest at over $3 trillion … for more, go to https://www.cnbc.com/2015/07/18/china-breaks-silence-on-gold-reserves.html
Gold! Gold! Gold!
KUALA LUMPUR (March 2018): The gold watchers and players had predicted that prices of the yellow metal are set to sky rocket by the end of 2016.
It’s now 2018. So, is it going to happen or not?
What has happened is the PetroYuan Futures Market that debuted on Monday (March 26) - setting a global bruising collision between the Greenback (PetroDollar) and the Yuan.
And it is all about gold!
In fact, the stage for the collision started last year when Moscow and Beijing inked to extend their three-year US$25 billion yuan-ruble swap deal.
That means both China and Russia will be transacting greater use of their domestic currencies in trans border trade or in short, dumping the Greenback.
And, that is also one of the reasons why China and Russia had been stockpiling its gold reserves, stepping up the pace in the past two years.
So, did the gold watchers and players get it wrong? Perhaps, they got the timing wrong?
Read on for more details and analysis:
Posted on 16 Oct 2017 by Ronan Manly
Neck and Neck: Russian and Chinese Official Gold Reserves
Note: This article has now been updated to reflect the fact that during September 2017, the Bank of Russia added a further 1.1 million ounces of gold (34 tonnes) to its gold reserves. This information was released by the Bank of Russia on Friday 20 October.
Official gold reserve updates from the Russian and Chinese central banks are probably one of the more closely watched metrics in the gold world. After the US, Germany, Italy and France, the sovereign gold holdings of China and Russia are the world’s 5th and 6th largest. And with the gold reserves ‘official figures’ of the US, Germany, Italy and France being essentially static, the only numbers worth watching are those of China and Russia. The Russian Federation’s central bank, the Bank of Russia, releases data on its official gold holdings in the Bank’s monthly “International Reserves and Foreign Currency Liquidity” report which is published towards the end of the third week of each month, and which confirms gold reserve changes as of the previous month-end. The Chinese State releases data on its official gold holdings via a monthly “Official Reserve Assets” report published by the State Administration of Foreign Reserves (SAFE) that is uploaded within the Forex Reserves pages of the SAFE website. This gold is classified as held by the Chinese central bank, the People’s Bank of China (PBoC). The SAFE report is published during the 2nd week of each month, reporting on the previous month-end … for more, go to https://www.bullionstar.com/blogs/ronan-manly/neck-neck-russian-chinese-official-gold-reserves/
"New “Gold Law” To Impact 1.6 Billion People
Doug Casey and E.B. Tucker of Casey Research Believe These Three Catalysts Are About To Create A ‘Perfect Storm’ For Gold Investors
HADEN DE BOER, MONEYWISE STAFF REPORTER
Before the end of 2016 a new “gold law” will go into effect.
This new rule will open the gold markets to 1.6 Billion people who until now have been barred from buying gold.
This massive new demand is set to send prices for the yellow metal sky high. Possibly higher than we’ve ever seen.
Keep reading, because if history is any guide, we may be on the verge of a gold buying frenzy.
The smart money is already getting ready. Just look at the Billionaire investors who are already quietly loading up on gold:
John Paulson, who netted $3 billion by shorting the housing market in 2007… and another $5 billion in the gold bull of 2009… is making a big bet on gold, to the tune of $900 million invested.
Stanley Druckenmiller is selling stock in droves… and moving a good chunk of his $4 Billion fortune into gold… including a $323 million investment of his own money into a major gold ETF.
And Ray Dalio, founder of Bridgewater Associates, one of the world’s largest hedge funds, is busy buying up gold-producing companies across the board.
This is not the first time a major legal change has sent the price of gold soaring.
Three times in the past 50 years, major decisions have created incredible new demand for gold. And all three times, the price of gold rocketed to all-time highs.
The first was in 1971, when Nixon slammed the gold window. Afterward, gold traded as a commodity and millions of investors bought gold for the first time. The result? The gold price shot up 2,328% from $35 to $850.
The second opportunity was in 1999. When the 15 largest central banks agreed to be buyers, not sellers, of gold. Demand surged. And gold went on a 300% tear. From a low of $250 all the way to $1,000 in 2008.
The third opportunity came in 2009. That’s when the Chinese government encouraged citizens to buy gold. What happens when 1.3 billion new buyers enter the market? A tidal wave of new demand drove the price of gold from $750 to a new high of $1,950.
In all three cases, major legal, regulatory or policy decisions changed the gold market overnight. And in all three cases this triggered massive new demand, sending the price of gold through the roof.
And it’s about to happen again.
Editor’s Note: The Gold Play About To Create A New Class Of Millionaires.
Doug Casey, founder of Casey Research, and his lead analyst E.B. Tucker have been studying the gold market for years. And what they see now is an almost “perfect storm” for gold. They see three major catalysts poised to strike before the end of 2016. Creating an opportunity the likes of which we may never see again.
Right now you still have time to get in ahead of the rush. Before a tsunami of 1.6 billion brand new gold buyers flood the market with cash.
In a brand new video, Doug, E.B. and their team reveal all the important details about this coming gold tidal wave. Including what they believe is the best way to get in immediately… and position yourself for gains up to fourteen times greater than holding bullion alone.
If Doug and E.B. are right (and they’ve been right on each of the three major gold moves mentioned above) a flood of new gold buyers are about to storm the market and send prices to levels we’ve never seen before…
… not in 1971 when gold began a surge 2,328% higher …
… and not in 2002 when gold soared 300% in under a decade.
This trifecta of gold events is set to create a perfect storm for gold. And it will all kick off by December 31.
When the floodgates open, $5,000/oz. for gold may prove to be just beginning. Again, if Doug and E.B. are right, we could see $7,000 or even $10,000/oz."
|Ruble-yuan trade between Russia & China makes dollar odd man out|
Published time: 3 Nov, 2017 09:51
Alexandr Demyanchuk / Sputnik
Moscow and Beijing are looking to extend the three-year $25 billion yuan-ruble swap deal and seek greater use of domestic currencies in trade. Experts have told RT this is likely to cut dependence on the US dollar. This week, Russian Prime Minister Dmitry Medvedev said the financial regulators of the two countries are working on extending the bilateral currency swap agreement for the next three years." In 2016, the share of national currencies in payments for exports of Russian goods and services was 13 percent, imports 16 percent. In the first quarter of 2017, these figures rose to 16 percent and 18 percent, respectively, said Russian Deputy Prime Minister Sergey Prikhodko. Both China and Russia are committed to promoting their own currencies, and this means the dollar share is likely to shrink. That's a fact, and it's not just indicative of the volume of transactions in national currencies. Russia and China are already working together on several BRICS multilateral agreements. Trade in national currencies is just one aspect of the general trend that has emerged in the world over the past decade, a Moscow-based analyst Mehdi Mehdiyev told… for more, go to https://www.rt.com/business/408670-russia-china-ruble-yuan-dollar/