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Strategies & Market Trends : Effective Trading In Our Markets. Learn, then Earn
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To: Jerry Olson who wrote (1480)8/27/2002 12:55:35 PM
From: Frederick Langford   of 1854
 
"The World Gold Council recently reported that Asian central banks hold more than half of the world's nearly $2 trillion in foreign exchange reserves, Kerr said. In the past, only about 5 percent of reserves were in gold and the rest in low-yielding U.S. securities, but that's changing quickly, he said.
Additionally, reports suggest that the Bank of China recently raised its gold holdings to 500 tons -- up from 395 tons a year ago, according to Kerr, who expects that the bank has plans to buy a lot more gold and increase their reserves significantly."
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