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 中国自2003年以来一直在收购黄金。。。 |
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ceo/cfo
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作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Chinese buying ‘reignites gold’s relevance’
By Chris Flood
Published: April 24 2009 23:34 | Last updated: April 24 2009 23:34
Gold prices rose modestly on Friday after China said it had become the world’s fifth-largest holder of bullion after secretly increasing its reserves by 75 per cent to 1,054 tonnes since 2003.
Gold added 0.9 per cent at $910.20 a troy ounce, taking its gain over the week to 4.9 per cent. There was talk that China’s announcement could prompt a broader reassessment of gold’s role as a reserve asset by other central banks.
EDITOR’S CHOICE
Uplift in China’s steel demand discounted - Apr-21Rio Tinto stands by Chinalco deal - Apr-20Peter Hambro scraps final dividend - Apr-20“The move does send a positive signal to the market, reigniting gold’s relevance as a monetary asset,” said Suki Cooper of Barclays Capital.
“It has also led to speculation about further increases in China’s gold reserves, buoying positive sentiment towards bullion.”
China has overtaken Switzerland, Japan and the Netherlands to become the fifth largest official holder of gold but still only holds a small proportion of its total foreign exchange reserves, under 2 per cent, as gold.
Some European central banks hold 50 to 60 per cent of their FX reserves as gold but BNP Paribas said it was unlikely China would move to those sorts of levels.
“China will be mindful of the global implications of any meaningful diversification of FX reserves and the central bank will have to tread carefully,” said Michael Widmer of BNP Paribas.“However, higher gold holdings could create an illiquid asset on the central bank’s balance sheet which could prove potentially difficult to liquidate if required.”
Michael Jansen of JPMorgan said the market’s reaction was telling. “If China had bought the gold in the open market instead of from domestic producers, then investors might be justified in drawing more aggressive conclusions,” he said. “However, this doesn’t necessarily signal a new attitude towards diversifying the country’s FX reserves because the central bank did not have to sell any dollar assets to acquire these gold holdings.”
The International Monetary Fund has said it wants to sell 403.3 tonnes of its gold holdings and China’s ann-ouncement triggered talk it might try to do a deal with the IMF. Steve Ellis, senior manager of the RAB Capital Gold fund said: “Historically, China was a large gold holder with about 10 per cent of its FX reserves in gold about 30 years ago. It would struggle to buy that amount in the open market but a deal with the IMF in an off-market transaction would be incredibly bullish for the market.”
作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 中国自2003年以来一直在收购黄金。。。 -- ceo/cfo - (2678 Byte) 2009-4-28 周二, 10:59 (1543 reads)
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