Archives for November 2015

November 2015 - Page 2 of 26 - Money Morning - Only the News You Can Profit From

Vast China Gold Reserves Just Added 470 Tons with Huge Undersea Find

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...