Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (29236)	3/1/1999 12:39:00 PM
From: George Castilarin	Respond to of 116764

In a separate report Sunday, Chinese analysts said China should increase its gold reserves to reduce reliance on the U.S. dollar and to hedge against financial risks. ''If there are problems with the dollar, there will be an international catastrophe,'' said Liu Shan'en, deputy director of the Gold Economic Development Research Center. ''An increase in our country's gold reserves is necessary,'' the Business Weekly quoted Liu as saying. China doesn't disclose what portion of its foreign reserves are held in dollars, but officials acknowledge the bulk of it is invested in U.S. treasuries. By contrast, China's gold reserves represented only 2.6 percent of total foreign reserves.