BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Bernanke: Emerging Markets Need to Address Capital Flows]]>http://www.bloggingstocks.com/2011/02/22/bernanke-emerging-markets-need-to-address-capital-flows/http://www.bloggingstocks.com/2011/02/22/bernanke-emerging-markets-need-to-address-capital-flows/http://www.bloggingstocks.com/2011/02/22/bernanke-emerging-markets-need-to-address-capital-flows/#commentsFiled under: , ,

Amid the political and social uprisings in the Middle East, and union protests in the U.S., a recent speech by a pivotal U.S. policy maker received little attention, but it's one that investors should review.

In a speech before the recent G-20 meeting, U.S. Federal Reserve Chairman Ben Bernanke urged emerging market nations to address the flood of money streaming into their markets.

Continue reading Bernanke: Emerging Markets Need to Address Capital Flows

Bernanke: Emerging Markets Need to Address Capital Flows originally appeared on BloggingStocks on Tue, 22 Feb 2011 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Bernankecapital flowsdollaremerging marketsexportsinthenewsyuanTue, 22 Feb 2011 18:00:00 EST<![CDATA[Gold and Silver March to New Highs]]>http://www.bloggingstocks.com/2010/10/05/gold-and-silver-march-to-new-highs/http://www.bloggingstocks.com/2010/10/05/gold-and-silver-march-to-new-highs/http://www.bloggingstocks.com/2010/10/05/gold-and-silver-march-to-new-highs/#commentsFiled under: , , ,

gold pricesPrecious metals moved higher today, led by gold, which set another record high. Here are the numbers:

  • December gold futures are trading at $1,328.20, per ounce, up $11.40 (as of 8:00 am EDT)
  • December silver is up 23 cents to $22.27 per ounce.
  • October platinum is trading at $1,681.7 per ounce, up $14.
  • December Palladium is up $7.20 to $568.50 per ounce.

Continue reading Gold and Silver March to New Highs

Gold and Silver March to New Highs originally appeared on BloggingStocks on Tue, 05 Oct 2010 10:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>australiachinacommoditieseuropefeaturedgoldgold pricesinthenewsjapanprecious metalsyuanTue, 05 Oct 2010 10:30:00 EST<![CDATA[China Will Support the Euro and Euro Bonds]]>http://www.bloggingstocks.com/2010/10/04/china-will-support-the-euro-and-euro-bonds/http://www.bloggingstocks.com/2010/10/04/china-will-support-the-euro-and-euro-bonds/http://www.bloggingstocks.com/2010/10/04/china-will-support-the-euro-and-euro-bonds/#commentsFiled under: ,

Chinese Premier Wen Jiabao issued a statement over the weekend confirming his country's support for the euro and euro bonds. "I have made clear that China supports a stable euro," the premier said, according to BBC News.

China vowed not to cut its investment in euro bonds. Not only that, China promises to buy Greek bonds when they are issued again.

This could be a game changer for Europe. Up to now, Europe has been struggling with high deficits and high unemployment in many of the Eurozone countries like Greece, Spain, Portugal and Ireland. With China's support, however, we'll probably see a return of confidence to the region. And that confidence comes at a crucial time.

Continue reading China Will Support the Euro and Euro Bonds

China Will Support the Euro and Euro Bonds originally appeared on BloggingStocks on Mon, 04 Oct 2010 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chinaeuro bondseurozonefeaturedinthenewsyuanMon, 04 Oct 2010 09:00:00 EST<![CDATA[Brazil: World Is in a 'Currency War']]>http://www.bloggingstocks.com/2010/09/27/brazil-world-is-in-a-currency-war/http://www.bloggingstocks.com/2010/09/27/brazil-world-is-in-a-currency-war/http://www.bloggingstocks.com/2010/09/27/brazil-world-is-in-a-currency-war/#commentsFiled under: , , , ,

One disastrous international trade policy of the 1930s concerned tariffs: nations increased tariffs on imports to protect domestic industries; when applied universally, it resulted in declining export sales and trade volumes. Tariffs made the Great Depression worse.

Now, it appears, nations are on the verge of implementing another counter-productive policy -- manipulating currencies -- and if public officials are not careful, a similar downward spiral in international trade could occur.

Continue reading Brazil: World Is in a 'Currency War'

Brazil: World Is in a 'Currency War' originally appeared on BloggingStocks on Mon, 27 Sep 2010 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>currency wardollarfeaturedglobal economygreat depressioninthenewsrealyenyuanMon, 27 Sep 2010 15:40:00 EST<![CDATA[China Economist Calls for Increased Domestic Consumption]]>http://www.bloggingstocks.com/2010/09/20/china-economist-calls-for-increased-domestic-consumption/http://www.bloggingstocks.com/2010/09/20/china-economist-calls-for-increased-domestic-consumption/http://www.bloggingstocks.com/2010/09/20/china-economist-calls-for-increased-domestic-consumption/#commentsFiled under: , ,

A member of the National Bureau of Economic Research, which announced Monday that the U.S. recession ended in June 2009, told The New York Times (NYT) the U.S. economy must grow at a 2.5% rate just to keep the unemployment rate, currently 9.6%, constant.

By extension, the world's largest economy will need upwards of 2.7% U.S. GDP growth annually -- probably closer to 3% growth -- to substantially reduce unemployment.

How about getting millions of China's new middle class to contribute to that growth? Li Daokui, an economist and an adviser to the People's Bank of China, agrees, at least regarding consumption by China's consumers.

Continue reading China Economist Calls for Increased Domestic Consumption

China Economist Calls for Increased Domestic Consumption originally appeared on BloggingStocks on Mon, 20 Sep 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinaconsumer spendingdollarfeaturedinternational tradeinthenewsyuanMon, 20 Sep 2010 16:40:00 EST<![CDATA[U.S. House May Use 'a Stick' to Nudge China on Yuan]]>http://www.bloggingstocks.com/2010/09/16/u-s-house-may-use-a-stick-to-nudge-china-on-yuan/http://www.bloggingstocks.com/2010/09/16/u-s-house-may-use-a-stick-to-nudge-china-on-yuan/http://www.bloggingstocks.com/2010/09/16/u-s-house-may-use-a-stick-to-nudge-china-on-yuan/#commentsFiled under: ,

In upcoming talks with China, the United States will try for what seems like the 1,000th time to encourage China to let its currency, the yuan, appreciate quicker, even as a growing list of sponsors add their name to a U.S. House bill, The New York Times (NYT) reported, that would require the Obama administration to impose duties or other trade barriers in lieu of currency action by Beijing.

China keeps the yuan in a tight trading band, arguing that it must keep the yuan valued at a low level to protect embryonic companies and sectors.

The United States argues that the yuan's artificially-low value unnaturally draws in trade revenue via cheap exports that, under a market-value yuan, would flow to other countries.

Continue reading U.S. House May Use 'a Stick' to Nudge China on Yuan

U.S. House May Use 'a Stick' to Nudge China on Yuan originally appeared on BloggingStocks on Thu, 16 Sep 2010 15:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarexportsimportsinthenewstrade deficityuanThu, 16 Sep 2010 15:30:00 EST<![CDATA[Will China Surpass the U.S. as the Economic Superpower in Seven Years?]]>http://www.bloggingstocks.com/2010/06/27/will-china-surpass-the-u-s-as-the-economic-superpower-in-seven/http://www.bloggingstocks.com/2010/06/27/will-china-surpass-the-u-s-as-the-economic-superpower-in-seven/http://www.bloggingstocks.com/2010/06/27/will-china-surpass-the-u-s-as-the-economic-superpower-in-seven/#commentsFiled under: , ,

China superpower China is developing fast and, even though it has some issues with human rights, pollution and corruption, people have been speculating that it could be the next global super power.

China has a population of 1.3 billion, which is four times the U.S. population of 308 million. Simple math dictates that if four Chinese people can match one U.S. person in productivity, China will surpass the U.S. in production.

Continue reading Will China Surpass the U.S. as the Economic Superpower in Seven Years?

Will China Surpass the U.S. as the Economic Superpower in Seven Years? originally appeared on BloggingStocks on Sun, 27 Jun 2010 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinacurrency evaluationdollarexchange ratesfeaturedGDPinthenewspurchasing power parityrenminbiyuanSun, 27 Jun 2010 11:40:00 EST<![CDATA[China's Yuan Move: A Start]]>http://www.bloggingstocks.com/2010/06/23/china-s-yuan-move-a-start/http://www.bloggingstocks.com/2010/06/23/china-s-yuan-move-a-start/http://www.bloggingstocks.com/2010/06/23/china-s-yuan-move-a-start/#commentsFiled under: ,

Now that China has agreed to a modest appreciation of the yuan, should investors expect more of the same in the quarters ahead?

At this juncture, no. The yuan's record high of 6.7980 yuan to the dollar reached Tuesday represents just a minor adjustment in Beijing's monetary policy, and that's what investors should look forward to: an incremental and very slow effort by Beijing to let the yuan appreciate, with limits.

How much will China let the yuan appreciate in a year? Perhaps 5% a year. The aforementioned may not seem like much but it does represent a Beijing response to international political pressure, primarily from the United States and the European Union.

Continue reading China's Yuan Move: A Start

China's Yuan Move: A Start originally appeared on BloggingStocks on Wed, 23 Jun 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarexportsimportstradeyuanyuan appreciationWed, 23 Jun 2010 16:40:00 EST<![CDATA[Oil Trades Above $79 per Barrel on China's Currency Move]]>http://www.bloggingstocks.com/2010/06/21/oil-trades-above-79-00-per-barrel-on-chinas-currency-move/http://www.bloggingstocks.com/2010/06/21/oil-trades-above-79-00-per-barrel-on-chinas-currency-move/http://www.bloggingstocks.com/2010/06/21/oil-trades-above-79-00-per-barrel-on-chinas-currency-move/#commentsFiled under: , , , , ,

Oil is denominated in US dollars. The Chinese move to let the yuan appreciate would make oil imports to China cheaper. Speculators were betting on China to increase oil demand based on the currency change.

Traders took the Chinese currency move and ran with it bidding up the price of oil to over $79.00 per barrel. August US crude futures traded at $78.87 per barrel, up $1.33. August Brent crude futures were up $1.28 to $79.50 per barrel.

Continue reading Oil Trades Above $79 per Barrel on China's Currency Move

Oil Trades Above $79 per Barrel on China's Currency Move originally appeared on BloggingStocks on Mon, 21 Jun 2010 14:40:00 EST. Please see our terms for use of feeds.

Read | Read | Permalink | Email this | Comments]]>Chinese currencyChineseCurrencyinthenewsoil trdaesyuanMon, 21 Jun 2010 14:40:00 EST<![CDATA[China Vows Slow, Tempered Change to Exchange Rate]]>http://www.bloggingstocks.com/2010/06/20/china-vows-gradual-change-to-exchange-rate/http://www.bloggingstocks.com/2010/06/20/china-vows-gradual-change-to-exchange-rate/http://www.bloggingstocks.com/2010/06/20/china-vows-gradual-change-to-exchange-rate/#commentsFiled under: , ,

Saturday, China signaled that it would abandon its currency peg against the U.S. dollar.

Then on Sunday, China's central bank said there would be no significant appreciation in the renminbi (the currency of the People's Republic of China) against the dollar. What's interesting is that this statement came one week before the G20 meeting on Toronto.

Continue reading China Vows Slow, Tempered Change to Exchange Rate

China Vows Slow, Tempered Change to Exchange Rate originally appeared on BloggingStocks on Sun, 20 Jun 2010 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Chinacurrency policydollarexchange rateinthenewsrenminbiyuanSun, 20 Jun 2010 11:40:00 EST<![CDATA[Geithner: China's Yuan Policy Hindering Global Recovery]]>http://www.bloggingstocks.com/2010/06/10/u-s-s-geithner-china-s-yuan-policy-hindering-global-recovery/http://www.bloggingstocks.com/2010/06/10/u-s-s-geithner-china-s-yuan-policy-hindering-global-recovery/http://www.bloggingstocks.com/2010/06/10/u-s-s-geithner-china-s-yuan-policy-hindering-global-recovery/#commentsFiled under: , ,

A key public official in the world's largest economy has turned-up-the-heat a notch regarding China's fixed-rate yuan currency.

U.S. Treasury Secretary Timothy Geithner, in prepared Capitol Hill testimony Thursday, said China's exchange-rate policy is preventing more-balanced global economic growth.

"The distortions caused by China's exchange rate spread far beyond China's borders and are an impediment to the global re-balancing we need," Geithner said. Allowing the yuan to float more-freely would enable China to pursue "a more effective, independent monetary policy, which is particularly important now, with China's economy facing a risk of inflation in goods and in asset prices."

Continue reading Geithner: China's Yuan Policy Hindering Global Recovery

Geithner: China's Yuan Policy Hindering Global Recovery originally appeared on BloggingStocks on Thu, 10 Jun 2010 15:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarGeithnerinthenewstradeyuanThu, 10 Jun 2010 15:00:00 EST<![CDATA[IMF Calls Appreciation of China's Yuan 'Highly Desirable']]>http://www.bloggingstocks.com/2010/04/22/imf-calls-appreciation-of-china-s-yuan-highly-desirable/http://www.bloggingstocks.com/2010/04/22/imf-calls-appreciation-of-china-s-yuan-highly-desirable/http://www.bloggingstocks.com/2010/04/22/imf-calls-appreciation-of-china-s-yuan-highly-desirable/#commentsFiled under:

Add the International Monetary Fund to the list of nations, institutions, and officials calling for China to let its currency appreciate.

The IMF, in its revised World Economic Outlook, said an appreciation of China's currency, "appears highly desirable on its own."

The group also said a shift in China's economy away from exports and toward domestic consumption, along with structural measures to decrease savings, would be preferred, as well.

Continue reading IMF Calls Appreciation of China's Yuan 'Highly Desirable'

IMF Calls Appreciation of China's Yuan 'Highly Desirable' originally appeared on BloggingStocks on Thu, 22 Apr 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarexportsIMFimportsInternational Monetary FundinthenewstradeyuanThu, 22 Apr 2010 18:00:00 EST<![CDATA[Serious Money: The Cost of Pushing Chinese Yuan Higher]]>http://www.bloggingstocks.com/2010/04/22/serious-money-the-cost-of-pushing-chinese-yuan-higher/http://www.bloggingstocks.com/2010/04/22/serious-money-the-cost-of-pushing-chinese-yuan-higher/http://www.bloggingstocks.com/2010/04/22/serious-money-the-cost-of-pushing-chinese-yuan-higher/#commentsFiled under: , , , , , , , , ,

"Be careful what you wish for" goes the ancient Chinese proverb. The United States government, pushed and prodded by its industrial leaders to get the Chinese to raise the value of the Yuan, should heed these wise words.

The goal, of course, is to make U.S. goods and services cheaper, thereby improving the balance of trade. The problem is that it makes everything cheaper.

It is true that it would support the remaining manufacturing base, software companies, commodities and consulting services. However, this is but a portion of what we have to offer.

What happens if the Yuan increases by 20% against the dollar, and they decide to buy International Business Machines (IBM) the company, not just IBM mainframes? This is not so far fetched. Lenovo bought the ThinkPad notebook computer division from IBM and now it sells Lenovo ThinkPads to us. They would be able to buy IBM 20% cheaper than you or I could buy it.

Continue reading Serious Money: The Cost of Pushing Chinese Yuan Higher

Serious Money: The Cost of Pushing Chinese Yuan Higher originally appeared on BloggingStocks on Thu, 22 Apr 2010 14:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Anadarko Petroleumapacheapartmentapcbalance of tradeChinaChinese competitioncurrencyFfordibminternational business machinesjobsLevovomarathon oilMROSheldon LiberThinkpadyuanyuan imbalanceThu, 22 Apr 2010 14:00:00 EST<![CDATA[Survey Forecasts China to Let Yuan Rise by July]]>http://www.bloggingstocks.com/2010/04/13/survey-forecasts-china-to-let-yuan-rise-by-july/http://www.bloggingstocks.com/2010/04/13/survey-forecasts-china-to-let-yuan-rise-by-july/http://www.bloggingstocks.com/2010/04/13/survey-forecasts-china-to-let-yuan-rise-by-july/#commentsFiled under:

China may allow its currency, the yuan, to appreciate versus the dollar by June 30 to check inflation, according to a new Bloomberg survey.

In the survey, 12 respondents said China's central bank will allow the yuan to float freely this quarter, while five expect it to occur by September 30. The median estimate for the yuan's strengthening was a 3.1% appreciation to 6.62 yuan to the dollar by the end of 2010.

Continue reading Survey Forecasts China to Let Yuan Rise by July

Survey Forecasts China to Let Yuan Rise by July originally appeared on BloggingStocks on Tue, 13 Apr 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarexportsimportsinthenewstradeyuanTue, 13 Apr 2010 16:40:00 EST<![CDATA[Hank Paulson Says Currency Flexibility Would Benefit China]]>http://www.bloggingstocks.com/2010/04/12/hank-paulson-says-currency-flexibility-would-benefit-china/http://www.bloggingstocks.com/2010/04/12/hank-paulson-says-currency-flexibility-would-benefit-china/http://www.bloggingstocks.com/2010/04/12/hank-paulson-says-currency-flexibility-would-benefit-china/#commentsFiled under:

Former U.S. Treasury Secretary Henry Paulson, is on the wires again, this time underscoring that a flexible currency for China would be in China's interest.

"I believe very strongly that it is in China's interest to have currency flexibility, to keep moving the renminbi," Paulson said at the Boao Forum for Asia, using another name for the Chinese currency, Bloomberg News reported. "It gives the government a very valuable and I think it is going to become an increasingly necessary policy tool to deal with inflation."

Continue reading Hank Paulson Says Currency Flexibility Would Benefit China

Hank Paulson Says Currency Flexibility Would Benefit China originally appeared on BloggingStocks on Mon, 12 Apr 2010 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarinthenewstradeyuanMon, 12 Apr 2010 17:30:00 EST<![CDATA[China Might Let Yuan Rise]]>http://www.bloggingstocks.com/2010/04/08/china-might-let-yuan-rise/http://www.bloggingstocks.com/2010/04/08/china-might-let-yuan-rise/http://www.bloggingstocks.com/2010/04/08/china-might-let-yuan-rise/#commentsFiled under: ,

Put this in the category of 'we'll believe it, when we see it.' China in the days ahead is likely to announce a revised Chinese currency policy that will allow the yuan to trade within a wider band against the dollar -- a change that would have the effect of strengthening the yuan versus the dollar, The New York Times (NYT) reported Thursday.

U.S. Treasury Secretary Timothy Geithner was in China Thursday night for a brief meeting with China's Vice Premier Wang Qishan.

Continue reading China Might Let Yuan Rise

China Might Let Yuan Rise originally appeared on BloggingStocks on Thu, 08 Apr 2010 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinadollarexportsyuanThu, 08 Apr 2010 17:00:00 EST<![CDATA[U.S. Senate's Patience on China's Yuan Policy May Be Growing Thin]]>http://www.bloggingstocks.com/2010/03/17/u-s-senates-patience-on-china-s-yuan-policy-may-be-growing-thi/http://www.bloggingstocks.com/2010/03/17/u-s-senates-patience-on-china-s-yuan-policy-may-be-growing-thi/http://www.bloggingstocks.com/2010/03/17/u-s-senates-patience-on-china-s-yuan-policy-may-be-growing-thi/#commentsFiled under:

The complex, delicate trade relationship between the United States and China will likely become more complex -- and heated -- in the months ahead, particular if the current mood in the U.S. Senate doesn't change.

The Senate is likely to increase pressure on President Obama to push China to let its fixed-rate currency, the yuan, appreciate, Bloomberg News reported Wednesday.

Continue reading U.S. Senate's Patience on China's Yuan Policy May Be Growing Thin

U.S. Senate's Patience on China's Yuan Policy May Be Growing Thin originally appeared on BloggingStocks on Wed, 17 Mar 2010 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarimportsinthenewsyuanWed, 17 Mar 2010 17:00:00 EST<![CDATA[Is China About to Let the Yuan Rise Versus the Dollar?]]>http://www.bloggingstocks.com/2010/03/12/is-china-about-to-let-the-yuan-rise-versus-the-dollar/http://www.bloggingstocks.com/2010/03/12/is-china-about-to-let-the-yuan-rise-versus-the-dollar/http://www.bloggingstocks.com/2010/03/12/is-china-about-to-let-the-yuan-rise-versus-the-dollar/#commentsFiled under: ,

Put this in the category of "we'll believe it, when we see it." There was more speculation in the financial markets Friday regarding a possible move by China to let its currency, the yuan, appreciate slightly versus the dollar in the weeks ahead.

China keeps the yuan pegged at roughly 6.82 yuan to the dollar. U.S. manufacturers charge that the peg artificially undervalues China's exports, giving China's companies an unnatural competitive advantage. China counters that the fixed yuan is necessary for its embryonic, vulnerable economy, and that the world benefits from cheaper goods.

Continue reading Is China About to Let the Yuan Rise Versus the Dollar?

Is China About to Let the Yuan Rise Versus the Dollar? originally appeared on BloggingStocks on Fri, 12 Mar 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollarfeaturedgreat depressioninthenewsyuanFri, 12 Mar 2010 16:40:00 EST<![CDATA[Roubini Sees Little Movement by China on Yuan in 2010]]>http://www.bloggingstocks.com/2010/03/10/roubini-sees-little-movement-by-china-on-yuan-in-2010/http://www.bloggingstocks.com/2010/03/10/roubini-sees-little-movement-by-china-on-yuan-in-2010/http://www.bloggingstocks.com/2010/03/10/roubini-sees-little-movement-by-china-on-yuan-in-2010/#commentsFiled under: ,

According to economist Nouriel Roubini, China's transition to a free-floating currency will remain incremental, which is a polite way of saying "slow."

Roubini, who three three years ago accurately predicted the hard landing for the U.S. economy and the global financial crisis, sees China letting the yuan appreciate 4%, in stages, over a 12-month period, Bloomberg News reported. He called China's monetary stance "super cautious."

Continue reading Roubini Sees Little Movement by China on Yuan in 2010

Roubini Sees Little Movement by China on Yuan in 2010 originally appeared on BloggingStocks on Wed, 10 Mar 2010 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>currencyinthenewsyuanWed, 10 Mar 2010 10:30:00 EST<![CDATA[China Declines to Buy the Remaining IMF Gold]]>http://www.bloggingstocks.com/2010/03/01/china-declines-to-buy-the-remaining-imf-gold/http://www.bloggingstocks.com/2010/03/01/china-declines-to-buy-the-remaining-imf-gold/http://www.bloggingstocks.com/2010/03/01/china-declines-to-buy-the-remaining-imf-gold/#commentsFiled under: , , ,

After India, Mauritius and Sri Lanka bought 212 tons of gold from the International Monetary Fund (IMF), rumors started flying about that China was planning to buy the remaining 191.3 tons. That rumor is being dispelled. An official from the China Gold Association said, "It is not feasible for China to buy IMF gold as any purchase or even intent to do so would trigger market speculation and volatility."

Interestingly, China has a relatively small position. It holds 1,054 tons of gold, amounting to just 1.2% of GDP. The large chunk of China's reserves, 70%, are in U.S. dollars. Clearly China wants to balance their reserve position but is choosing to do so by buying gold mines instead gold bullion.

Continue reading China Declines to Buy the Remaining IMF Gold

China Declines to Buy the Remaining IMF Gold originally appeared on BloggingStocks on Mon, 01 Mar 2010 12:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChinagoldIMFinthenewsyuanMon, 01 Mar 2010 12:30:00 EST