Beijing whispers push gold to $700 by Ambrose Evans-Pritchard
They seized on comments yesterday by Liu Shanen, an official at the Beijing Gold Economy Development Research Centre, who said China should raise the portion of gold in its reserves from 1.3pc today to between 3pc and 5pc. Such a move would entail the purchase of 1,900 tonnes of gold, equivalent to gobbling up nine months of global mine production.
posted by SARTRE @ 5/11/2006 06:46:00 AM
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