Central Banking

China ups gold coin production

china-gold

The People's Bank of China on Monday announced it is more than doubling its issuance of gold panda coins to meet the demand of precious metal coin collectors.

The central bank said it plans to mint about one million ounces of the 2011 panda commemorative gold coins compared with plans at the end of last year for 500,000 ounces of the coins.

Massive inflation spikes in China have lead to rocketing demand for gold in China as investors seek safer assets in a turbulent economy. The World Gold Counc

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