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Isnin, 22 Ogos 2011

China Continues Gold Hide

- China has the world's largest foreign exchange reserves. The number reached 3 trillion U.S. dollars as of end March 2011, partially stored in the form of gold.

China became the sixth largest gold holder for more incentive to diversify their assets decline in value so as not to erode the U.S. dollar-denominated assets

China became the sixth largest gold holder for more incentive to diversify their assets so as not to erode the assets decline in value of U.S. dollar denominated. China's gold holdings reached 1054.1 tons per end of March, according to data from the Ministry of Finance.

The amount is almost sebagiak tiny fraction of China's foreign exchange reserves. China to keep its gold holdings remained above 600 tons for six years beginning in 2009. Organization of the World Gold Council is a nonprofit organization that provides information about the gold to investors.

The U.S. remains the number one country in the possession of gold, by holding 8133.5 tons, followed by Germany with 3406.8 tons. Next is the International Monetary Fund with 3005.3 tons, Italy as much as 2451.8 tons, and France as much as 2435.4 tons.

China's gold holdings is only equivalent to 1.6 percent or 55 billion U.S. dollars of total foreign exchange reserves which reached 3 trillion. Gold became a particularly attractive investment assets during the financial situation was volatile and uncertain like lately.

Analysts in commodity markets saw that China has considerable room to increase the amount of gold reserves. More and more economists and economic advisers who advised China's central bank should raise its reserves in gold to protect the value of assets if there is a decline in the value of another currency.

China is already declared, the decline in exchange rate U.S. dollar foreign exchange reserves have been evaporating at 271.1 billion U.S. dollars between 2003 and 2010. China is likely to lose up to 578.6 billion U.S. dollars if the U.S. dollar exchange rate continued to fall up to 6 yuan per U.S. dollar. Continued to strengthen the yuan exchange rate reached its highest level against the dollar after trimming the Standard & Poor's ratings last weekend

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