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Gold slides after Chinese reserves data shows no increase in stocks

The latest reserves data from China has just been released and that data also covered gold holdings. The data reveals that China has not added to its current gold holdings at all. official Chinese gold holdings remained static in May, at 72.8 million ounces. Gold has taken a hit immediately upon seeing this data. The metal has slumped more than $20 in very short order on the news. Gold has fallen because the markets surely thought that China had been a significant buyer last month. Well, it turns out that they were not. Gold has fallen to a low so far at $2,353.19 , It is currently trading at $2,356,15

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