Gold Breaking News
GOLD day after crashing more than 2.2% to fresh five-year lows, gold futures inched down on Tuesday for its ninth straight loss in spite of a retreating dollar. The stimulus measures came hours after China released data on its gold holdings for the first time since 2009. While Chinese gold holdings surged about 60% to 1,658 metric tons over the six-year span, the figure still pales in comparison to the nation's increasing stockpile in foreign exchange reserves. Chinese gold reserves represent only 1.5% of its forex reserves, dampening optimism that the world's second-largest economy can provide a further boost to the global gold market.
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