China becomes fifth largest gold reserves holder
Published on: April 24, 2009 at 11:15
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BEIJING : China’s State Administration of Foreign Exchange (SAFE) on Friday said the country has 1,054 tones of gold in its state reserves.
In a statement issued here SAFE said China’s gold reserves had risen 454 tones since 2003 and were now the fifth biggest in the world.
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China had increased its stocks by buying on the domestic market and from domestic producers.
US leads the table as the highest holder of gold reserves in the world followed by Germany, IMF, France, Italy ,Switzerland, SPDR Gold trust and Japan.
India is in the fourteenth position with 357.7 tones of Gold reserves
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