tag:blogger.com,1999:blog-5028787.post4729225913251068734..comments2023-10-20T07:56:55.395-07:00Comments on Emerging Growth Stocks: China admits to building up stockpile of gold - National PostLouis Paquettehttp://www.blogger.com/profile/12973714925927639080noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5028787.post-82145018288600389882009-04-26T19:43:00.000-07:002009-04-26T19:43:00.000-07:00I somehow doubt that. Of course I am only guessing...I somehow doubt that. Of course I am only guessing. But for one, by my estimate from what I have read - China's gold amounts to somewhere between 1% and 1.5% of it's total foreign reserves. A mere pittance. Secondly, a large portion of their reserves are in US Dollars. And what better hedge against that, besides a large put option, is gold? <br /><br />Thanks for your post.Louis Paquettehttps://www.blogger.com/profile/12973714925927639080noreply@blogger.comtag:blogger.com,1999:blog-5028787.post-81464999196764739032009-04-26T19:24:00.000-07:002009-04-26T19:24:00.000-07:00This news should have a Bearish edge to it as the ...This news should have a Bearish edge to it as the percentage increases for the last two years is around 4.5 percent compared to the big percentage increases of previous years. So it seems now China has leveled off its gold purchases and maybe thinking of selling to raise funds for boosting the economy.Anonymousnoreply@blogger.com