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China bought another 30 tonnes of gold in December 2022, following 32 tonnes in November

tradingfxdaily by tradingfxdaily
January 8, 2023
in Forex
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China bought another 30 tonnes of gold in December 2022, following 32 tonnes in November
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Information posted to the People’s Bank of China website over the weekend reported it increased its holdings of gold
Gold
Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn’t corrode, and the material allows for some absorption of light creating a yellow glow, which lends the name yellow metal.Ultimately, institutional and retail investors buy and sell gold contracts or physical gold, thus creating the demand and supply flow.This can be pure speculation, to acquire or distribute physical gold, or as a hedge for commercial application. For day-traders, the purpose of trading gold is to profit from its daily price movements.How to Trade GoldDay-trading gold is speculating on its short-term price movements. Of note, physical gold is not actually handled or taken possession of, rather the transactions take place electronically and only profits or losses are reflected in the trading account.There are a number of ways to ultimately trade gold. Retail brokers typically offer exposure to gold through contracts-for-difference (CFDs).Beyond retail brokers, the main way to trade gold is via a futures contract. This represents an agreement to buy or sell something, i.e. gold at a future date. Buying a gold futures contract doesn’t mean you actually have to take possession of the physical commodity.Day traders close out all contracts (trades) each day and make a profit based on the difference between the price they bought the contract and the price they sold it at. However, on a futures exchange, gold moves in $0.10 increments only. This increment is known as a tick. It is the smallest movement a futures contract can make. If you buy or sell a futures contract, how many ticks the price moves away from your entry price determines your profit or loss.
Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn’t corrode, and the material allows for some absorption of light creating a yellow glow, which lends the name yellow metal.Ultimately, institutional and retail investors buy and sell gold contracts or physical gold, thus creating the demand and supply flow.This can be pure speculation, to acquire or distribute physical gold, or as a hedge for commercial application. For day-traders, the purpose of trading gold is to profit from its daily price movements.How to Trade GoldDay-trading gold is speculating on its short-term price movements. Of note, physical gold is not actually handled or taken possession of, rather the transactions take place electronically and only profits or losses are reflected in the trading account.There are a number of ways to ultimately trade gold. Retail brokers typically offer exposure to gold through contracts-for-difference (CFDs).Beyond retail brokers, the main way to trade gold is via a futures contract. This represents an agreement to buy or sell something, i.e. gold at a future date. Buying a gold futures contract doesn’t mean you actually have to take possession of the physical commodity.Day traders close out all contracts (trades) each day and make a profit based on the difference between the price they bought the contract and the price they sold it at. However, on a futures exchange, gold moves in $0.10 increments only. This increment is known as a tick. It is the smallest movement a futures contract can make. If you buy or sell a futures contract, how many ticks the price moves away from your entry price determines your profit or loss.
 Read this Term by 30 tonnes in December.

  • this boosts the country’s stash of gold to 2,010 tonnes
  • it follows November’s buying of 32 tonnes

The PBOC’s previously reported inflow of gold was in September of 2019 and, before that, October 2016. The renewed bout of large purchasing is being speculated as a response to heightened geopolitical risk, and perhaps more to come.

In other info the PBOC reported the country’s foreign exchange
Foreign Exchange
Foreign exchange (forex) represents the practice of exchanging or converting a specific country’s currency into another country’s currency. A popular example includes the conversion of the Australian dollar (AUD) into US dollars (USD), and/or vice versa. There are a variety of mediums this can occur over. In its most basic form, the exchange of currencies can be handled over a physical counter, such as in an airport or currency exchange.This can also take place over the internet through the use of brokerage platforms, which also utilizes speculation or leverage and is known as forex trading.Overall, the forex market presently is one of the world’s largest trading markets by volume. This includes both retail and institutional traders.The FX market presently turns over in excess of $5 trillion every day, with the most exchanges occurring between the US dollar and the Euro (EUR/USD), followed by the US dollar and the Japanese yen (USD/JPY), then the US dollar and British pound (GBP/USD), according to the Bank of International Settlements (BIS) latest survey.Foreign Exchange Trading Now Available to EveryoneOver a period of time, exchanging currencies causes a country’s currency to fluctuate in value in relation to another currency. This is defined as the exchange rate. Trading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.However, recent innovations and technology has made normal forex trading now accessible for even normal individuals. Forex exchange trading is a complicated practice though can be learned easily with the help of many retail brokers. Most commonly, users can gain valuable practice using demonstration accounts that rely on trading with demo money, before ultimately trading with actual money.
Foreign exchange (forex) represents the practice of exchanging or converting a specific country’s currency into another country’s currency. A popular example includes the conversion of the Australian dollar (AUD) into US dollars (USD), and/or vice versa. There are a variety of mediums this can occur over. In its most basic form, the exchange of currencies can be handled over a physical counter, such as in an airport or currency exchange.This can also take place over the internet through the use of brokerage platforms, which also utilizes speculation or leverage and is known as forex trading.Overall, the forex market presently is one of the world’s largest trading markets by volume. This includes both retail and institutional traders.The FX market presently turns over in excess of $5 trillion every day, with the most exchanges occurring between the US dollar and the Euro (EUR/USD), followed by the US dollar and the Japanese yen (USD/JPY), then the US dollar and British pound (GBP/USD), according to the Bank of International Settlements (BIS) latest survey.Foreign Exchange Trading Now Available to EveryoneOver a period of time, exchanging currencies causes a country’s currency to fluctuate in value in relation to another currency. This is defined as the exchange rate. Trading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.However, recent innovations and technology has made normal forex trading now accessible for even normal individuals. Forex exchange trading is a complicated practice though can be learned easily with the help of many retail brokers. Most commonly, users can gain valuable practice using demonstration accounts that rely on trading with demo money, before ultimately trading with actual money.
 Read this Term reserves at the end of December increased by around $11 billion from end-November and now total $3.12 trillion.

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