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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (23852)	10/30/2006 11:07:15 AM
From: TrueScouse	Read Replies (1) of 78408

CC: From today's Globe and Mail... <<Reserves of $700-billion 'enough' for China -- Bloomberg News -- BEIJING -- Chinese foreign exchange reserves of $700-billion (U.S.) are "enough," and the country should spend excess holdings abroad, says Xia Bin, director of the financial research department of the State Council, or cabinet. The nation should also buy gold at an opportune time, Mr. Xia said yesterday at a seminar in Beijing. The proportion of gold in its reserves "is too low," he said. Gold makes up 1.3 per cent of China's foreign exchange holdings, according to the World Gold Council. That compares with 1.8 per cent in Japan and 25.8 per cent for the European Central Bank, according to the Gold Council....>> theglobeandmail.com This guy's the head of finance-research for the Chinese cabinet, so presumably this is not his "personal opinion". Even a small diversion of China's trade surplus into PMs could have a massive effect. I think the next leg up's beginning. :^) Best regards, Howy

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