China May Gradually Increase Gold Reserve Holdings, Paper Says

The last thing China is going to do is telegraph its true intentions. China will surprise many by announcing a massive upward revision their gold reserves when it supports their plan and interests. Expect more of “we’re interested but not too interested in gold" press releases as they execute their plan behind the scenes.

China is considering gradually increasing the nation’s gold reserves, the 21st Century Business Herald reported today, citing an unidentified consultant to the government.

There are limits to China’s ability to increase gold holdings on a large scale within a short time, so the gains in the government reserves will be a slow, incremental process, the newspaper said, citing the consultant. China currently has 1,064 metric tons of gold, accounting for 1.6 percent of its foreign exchange reserves, it added.

Source: businessweek.com