Information on Gold Reserves in China Released
On July 17 2015, the Chinese authorities for the first time since 2009 released data on holdings of this precious metal. During this period, the gold reserves increased by 57% and now worth 1658 metric tonnes. This figure turned out to be lower-than-expected by the market. Experts were positive that China was buying nearly a half of physical gold on the market, which ensures strong demand. Sadly it has proven to be a misconception.
On Monday, July 20, gold dropped by 3640 pips in one minute, which allowed to make $9100 by a sell position, with trading one lot.
China's Gold Reserves