You are here
China boosts gold reserves for eighth month
By Sybilla Gross
Bloomberg News
Friday, July 7, 2023
China added to its gold reserves for an eighth consecutive month, with economic and geopolitical risks as well as a desire to move away from the U.S. dollar driving the purchases.
People's Bank of China holdings of bullion rose by 680,000 troy ounces last month, according to official data released today. That's equivalent to 23 tons. Total stockpiles now sit at 2,330 tons, with around 183 tons added in the run of buying from November.
... Dispatch continues below ...
... ADVERTISEMENT ...
First Majestic Mines Silver and Gold
in U.S. and Mexico, Operates Bullion Store
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States.
The company owns and operates the San Dimas Silver and Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver and Gold Mine, and the La Encantada Silver Mine.
In 2023 these mines are projected to produce between 33.2 to 37.1 million silver equivalent ounces, consisting of 10 to 11.1 million ounces of silver and 277,000 to 310,000 ounces of gold, with an all-in sustaining cost of $18.47 to $19.72 per payable silver-equivalent ounce.
For information about the company, visit:
https://www.firstmajestic.com/
Unique to First Majestic, the company offers a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at First Majestic's bullion store at some of lowest premiums available:
https://store.firstmajestic.com/
China has been an enthusiastic buyer of gold, partly due to its desire to chip away at the dominance of the dollar in global market. It is also struggling with a disappointing recovery from the pandemic, and an increasingly strained relationship with the United States. ...
... For the remainder of the report:
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
