Indian forex reserves at record $555 billion

Indian forex reserves at record $555 billion

New Delhi/Mumbai: – There was an addition of nearly $3.5 billion to the Indian foreign exchange reserves, in a matter of only a week, taking it to a record $555 billion. There has been an increase of a whopping $80 billion, even during the times of Coronavirus crisis, and the annualised increase is $115 billion. […]

Read More »

4% of Chinese gold reserves are fake  

4% of Chinese gold reserves are fake  

Beijing: – It is claimed that 83 tonnes of gold, amounting to 4% of gold in the Chinese reserves, is fake. Wuhan Kingold Jewellery Inc., a leading company in the gold market, having links with the Chinese military, had borrowed USD 2.8 billion against this fake gold. The gold deposited by this company as collateral with the […]

Read More »

China purchased 74 tonnes of gold in the last six months, against the background of surge in the gold prices to record high

China purchased 74 tonnes of gold in the last six months, against the background of surge in the gold prices to record high

Beijing: While the indications of the trade war between the United States and China have been flaring up further, China has aggressively started augmenting its Gold reserves. Since December last year, China has been on a gold buying spree and over just six months, has purchased a whopping 74 tonnes of gold. This Chinese purchase, […]

Read More »

Serbia and the Philippines increase their Gold reserves

Serbia and the Philippines increase their Gold reserves

Belgrade/Manila: Amid warnings of a slowdown in the global economy, a few of the smaller countries have been observed to be focusing on investment in Gold, as a security measure. Serbia, a state in Europe, has planned to take its Gold reserves to 50 tonnes whereas, the Philippines has approved legislation to encourage the country’s […]

Read More »

Gold rates will bounce up to $1,400 by the end of 2019, due to economic uncertainties and increasing purchases, claim international analysts

Gold rates will bounce up to $1,400 by the end of 2019, due to economic uncertainties and increasing purchases, claim international analysts

New York/London: International analysts have predicted that the uncertainty at the economic level and the heavy purchasing of Gold by the Central banks of various countries, will make the Gold rates jump to a whopping $1,400 per ounce. (1 Ounce = 28.5 Grams). Martin Huxley of INTL FCStone group claimed that the policy of the […]

Read More »

Russian Gold would be the best alternative for the USD; claims Russian official

Russian Gold would be the best alternative for the USD; claims Russian official

Moscow/Washington: The chief of the Russian stock market has asserted that Russia can offer investment in the Russian Gold as an excellent alternative for those investing in the US dollar. Only a few days ago, it was reported that Russia had taken its Gold stocks to 2,100 tonnes valued at $87 billion in the foreign […]

Read More »