PRLog - Oct. 14, 2010 - Sahit Muja: China will invest more in gold, oil, commodities and metals to protect $2.65 trillion reserves from big devaluation.
Gold for December delivery was adding $6.40 to $1,376.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Thursday has traded as high as $1,388.10 .
Copper prices hit a 27-month-high on the London stock exchange today copper to be delivered in three months was seen to hit a price of $8,485 per metric tonne, the highest level since July 2008.
Imports from China to U.S climbed 6.1 per cent in August, hitting a record $35.3-billion, while the U.S.-China trade gap also set a new high of $28-billion.
China's government said that its exports rise in September and that the nation’s foreign exchange reserves soared last month, data that is likely to keep pressure on Beijing to appreciate its currency.
Chinese government said its monthly trade surplus reached $16.9 billion in September, with exports up 25 percent and imports climbing 24 percent.
China's government said its foreign exchange reserves soared $194 billion in September to a record $2.65 trillion, far more than economists had forecast. China already had, by far, the world’s largest currency reserve holdings.
The gains in exports and show that China’s fast-growing economy is chugging along and that massive amounts of foreign capital continue to flow into the country, complicating Beijing’s economic policies and threatening to fuel inflation and asset bubbles.
Albanian Minerals in NY and Bytyci SHPK in Tropoje, Albania expect gold, copper, iron ore, chrome ore, ferrochrome steel prices to rise by about 10%- 15% in 2011 . The rise in prices for oil, coal , raw material and freight rates generally drive commodity and metal prices up.
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Albanian Minerals is Metal Mining and trading Company one of fastest growing mineral company in Europe