100bestdatingsites org 100 online dating site in switzerland
If the RMB wants to achieve international status, it must have popular acceptance and a stable value.
(Read for more information on the relation between SGEI trading volume and SGE withdrawals) As most readers who are interested in gold will know, China’s official gold reserves are small in proportion to the size of their economy and their foreign exchange reserves.
This disproportionate position has been difficult for China to escape from.
Any slight move from their immense stock of US dollars into gold could disrupt the gold market, and thus the US dollar, spoiling the party for everybody. The latest update on the size of their official gold pile was in April 2009, when they disclosed to have 1,054 tonnes, up 454 tonnes from 600 tonnes, which they claimed to have since 2003.
Common sense indicates the PBOC did not buy 454 tonnes in a few months; most likely they bought this amount in secret spread over six years (2003 – 2009).
Withdrawals from the vaults, which equal Chinese wholesale demand, accounted for 53 tonnes, up 3.91 % from the prior week.
Year to date total withdrawals have reached a staggering 561 tonnes, up 7.3 % from 2014, up 33 % from 2013.
First let’s go through the latest Shanghai Gold Exchange data and then we’ll continue to discuss the most recent developments regarding Chinese official gold reserves.
Friday the Shanghai Gold Exchange (SGE) released its trade report of week 11, 2015 (March 16 – 20).
“The ideal amount should be at least 5 percent of its total forex reserves,” Wang told Reuters in an interview in Hong Kong.
The latest IMF data points out China’s total foreign exchange reserves, excluding gold, on December 1, 2014, were valued at 3.859 trillion US dollars.
Next to what Lagarde and the IMF have stated, more “official” channels are hinting at changes to come regarding China in the international monetary system.Tags: Adult Dating, affair dating, sex dating