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China’s $3.3 Trillion FX Reserves Could Buy All World’s G…

 
Concerns about the global economy and the outlook for riskier assets have led to renewed physical buying interest in Asia, particularly in China. The increasingly popular gold forward contract on the Shanghai Gold Exchange stood at 320 yuan a gram by 0741 GMT according to Reuters, or $1,600/oz. This is a healthy premium of about $23 to spot gold.

Investors are waiting to see the impact of the spending cuts, known as the “sequester”, although the $85 billion cuts are a tiny fraction of the U.S. government’s…

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