by Dave Kranzler, Inevstment Research Dynamics:
China has set up a gold sector fund that will help facilitate gold purchases by Central Banks in the countries which are part of China’s new Silk Road development project. The fund is expected to raise 100 billion yuan ($16 billion) to invest in physical gold and in mining companies in countries along the Silk Road.
China is the world’s largest gold producer, and also a major importer and consumer of gold. Among the 65 countries along the routes of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, there are numerous Asian countries identified as important reserve bases and consumers of gold.
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