Welcome To the Stock Synergy, Momentum & Breakout HUB On AGORACOM

Edit this title from the Fast Facts Section

Free
Message: China buys into SPDR (GLD) ETF

China buys into SPDR (GLD) ETF

posted on Feb 22, 2010 08:17AM

http://seekingalpha.com/article/189849-insights-into-china-s-future-gold-plays

Last week it was revealed that China Investment Corp., the nation’s sovereign wealth fund, took a 1.45 million share stake in the SPDR Gold Trust worth $155.6 million. This is the equivalent of 145,000 ounces of bullion.

Recently CNCG (China National Gold Group Corp), a Chinese, government-owned mining conglomerate, announced plans to transfer several of its gold mine assets to Jinshan Mines (JINFF.PK), as well as promising to acquire more projects through its Vancouver based subsidiary.

Share
New Message
Please login to post a reply