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US Treasury bonds still China's best choice (2)

(People's Daily Online)

08:12, July 24, 2012

Gold is another option

The State Administration of Foreign Exchange has not been very active for gold reserves. Although some economists believe that China should increase its gold reserves, China’s gold reserves only account for 1.6 percent in its foreign exchange reserves.

According to a ranking released by the World Gold Council on July 9, the Chinese reserve of gold was 1054.1 tons, ranking sixth in the world. The ratio of gold reserves to foreign reserve was the lowest in the top 20 countries.

In this regard, Mei Yuxin said he is in favor of increasing the gold reserves, but does not agree with increasing gold holdings significantly.

"The increase in gold reserves should be made at the right time. We should buy when the price hits bottom," Mei said.

Li believes that the holdings of gold can optimize asset allocation, and can appreciate, but there are also drawbacks. Buying large amount of gold will push the price of gold high, but there is no place to sell so much gold.

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