Gold

Category Archives: Gold

China, Japan to back direct trade of currencies, sidestepping dollar

December 26, 2011 at 22:48

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Japan and China will promote direct trading of yen and yuan without using dollars and will encourage the development of a market for the exchange, to cut costs for companies, the Japanese government said. Japan will also apply to buy Chinese bonds next year, the Japanese government said in a statement after a meeting between […]

Turkey Boosts Gold Reserves

December 23, 2011 at 16:28

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Turkey lifted its gold reserves by a hefty 1.328 million troy ounces, or 30 percent, last month as central banks around the world maintained their positions as net buyers of the precious metal. According to data from the International Monetary Fund, the Turkish central bank increased its gold reserves to 5.758 million ounces in November, […]

Will the Europeans have to sell there gold?

December 20, 2011 at 16:39

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If the Italians can’t persuade the bond markets to keep them in business, they have another card up their sleeve. Few people realize it, but Italy holds the world’s fourth biggest stockpile of gold, at 2,452 tonnes. That’s even more than France, and more than twice as much as China. Only the United States, Germany, […]