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China’s Central Bank Buys Gold on the Sly

Bullish news may soon be coming out of China.  We hear that the country’s central bank will soon announce a substantial increase in its official gold holdings, bringing the total to some 2,710 tons at the end of last year. NicholsOnGold has long held the view that China’s central bank, the People’s Bank of China (the PBOC), has been surreptitiously adding to its official gold reserves. The PBOC reported in April 2009 that its official gold reserves stood at 1,054 tons – and it has not reported any increase in official gold reserves since that announcement nearly five years ago. Now, ...

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