China Courts Foreign Gold Reserves to Boost Global Clout

3 reasons why gold's record-shattering hot streak is still going

DAVID GRAY / AFP via Getty ImagesRecord-setting gold is having its best year since the 1970s.Returns have ramped up in recent weeks as the Fed has started a new rate-cutting cycle.A new catalyst entered the fray on Tuesday, with China reportedly interested in being a gold custodian.In case you've missed it, there's been a bit of a gold rush going on.The price of the precious metal is on a seemingly unstoppable ascent to record after record, incl…

Gold price nears $3,800 as China says it wants to be custodian of foreign gold reserves

The People’s Bank of China has reportedly pitched central banks on storing the yellow metal on their behalf, inside China.

Gold Hits New Record High As China Moves To De-Westernize Global Bullion Market

Gold Hits New Record High As China Moves To De-Westernize Global Bullion Market The Gold rally has accelerated since August and delivered a +12% return over the past month - 98th percentile for monthly returns since 1980 - supported by rising futures positioning and ETF inflows, as well as a seasonal pick-up of central Bank demand.  Overnight, however, Gold climbed to a fresh record, with traders weighing China's new plan to become a custodian o…

China Courts Foreign Gold Reserves to Boost Global Clout

China aims to become custodian of foreign sovereign gold reserves in a bid to strengthen its standing in the global bullion market, according to people familiar with the matter.

Gold Market Update - Is a Global Gold Cold War Beginning? - Research Portal

For nearly 100 years, the United States Federal Reserve’s gold reserves have been the largest of any central bank, with Fort Knox and its massive 8,133.46 mt of gold. This compares to the 2,298.53 mt of People’s Bank of China, which over the past 20 years, has been the most aggressive in adding to gold reserves. China now ranks 5th in world gold reserves, but, if recent additions to its stockpiles continue, it could become number 3 globally in a