China's gold reserves rise 1 percent
(AGI) Beijing, Sept 30 - China increased its gold reserves by 1percent in August, equivalent today to 54.45 million troyounces, as against the 53.93 million reported at the end ofJuly. In July, China broke a 6-year silence on the goldreserves it kept, unexpectedly releasing a figure up 57 percenton the April 2009 report. This recent climb was due to a recordfall in prices, enabling hoarding through various channels,according to the country's central bank. The price of gold hasdropped by some 40 percent since 2011 - a record. And it isstill falling.