China Seen by Klapwijk Boosting Gold Reserves as Prices Drop
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China may have bought 300 metric tons of gold in the first half of this year to diversify its foreign-exchange reserves, the world’s largest, according to Philip Klapwijk of Precious Metals Insights Ltd.
China hasn’t announced any changes to state gold reserves since authorities in 2009 said bullion holdings totaled 1,054.1 metric tons.