China’s foreign reserves rise to $3.105 trillion on weaker dollar

NewsMax/Thomson-Reuters/11-7-2019

Ed Stein Cartoon of dragon atop gold hoard captioned Dragon's Hoard“China’s foreign exchange reserves rose more than expected in October, as the yuan rebounded on growing hopes that Chinese and U.S. negotiators are making headway in their efforts to strike an interim trade agreement.”

USAGOLD note:  Some have tried to read more into the fact that China’s gold reserves stayed steady in October (also reported in this article).  We will stick with our long-standing opinion that the additions have been on-going and probably much larger than the aggregate gold stockpile reported.  Further, we will stick with our view that the reports simply reflect the level the Chinese central bank is willing to announce at this point in time.

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