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IPMI and Industry News: Industry News

China, India and Gold

Wednesday, January 9, 2019  
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Here’s how China’s decision to buy gold again will affect India

Data from the People’s Bank of China showed that gold reserves had increased to 59.56 million ounces by the end of 2018 after remaining unchanged at 59.24 million ounces since October 2016. Gold prices have already been on the upswing owing to the asset’s safe haven status amid US-China trade tensions, and will only increase further if the US Federal Reserve holds off on further rate hikes. This doesn’t bode too well for India, which imports gold and roughly accounts for a quarter of global demand. - Business Insider 01/08/2019

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