This month, already vast China gold reserves grew even larger…
The Shandong Provincial No. 3 Institute of Geological and Mineral Survey announced on Nov. 9 it discovered a 470.4-ton gold deposit in the East China Sea. That’s the largest and first-ever undersea gold mine found in the country. At the current price of gold, that amount is worth roughly $16.4 billion.
China has noticeably increased efforts to mine and stockpile gold this year.
The Red Dragon’s lust for the yellow metal will come as no surprise to regular Money Morning readers. Resource Specialist Peter Krauth has frequently noted China’s high gold demand – and what the country intends to do with its growing store of wealth…
Tags: china gold, china gold mining, China gold reserves, china’s gold reserves, gold China, Gold Prices, gold reserves china, price of gold
To get full access to all Money Morning content, click here
About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.
Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.
The post Vast China Gold Reserves Just Added 470 Tons with Huge Undersea Find appeared first on Money Morning – We Make Investing Profitable.
Read on →