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Chinese gold consumption continues to explode, now passing monthly averages. What does this mean for the future of the metal? Find out here. This week, Your News to Know brings you the latest news stories about the gold market and the overall economy. Stories include: Chinese gold demand soon to pass full year record, 4 […]

Once a week, every week, Your News to Know brings you newsworthy stories and critical reads on the gold market and the economy. Stories this week include China’s insatiable demand for gold continues, Turkey’s citizens are hoarding gold as protection against their currency, and a 2015 outlook for silver.

The value of precious metal holdings by Chinese banks has jumped 66 percent from a year ago as lenders lease more metals in an environment of tougher borrowing rules where funds are more difficult to lend. Reserves of gold and other precious metals by China’s four biggest lenders were estimated at 378 billion yuan ($62 billion) at the end of the second quarter. Read on to get all the details.

China has gone dark on its gold reporting — for over 5 years, the nation has refused to update the official numbers for its reserves. Why the secrecy? What is China waiting for? As they lay in the weeds, what plans may they have in mind? Get some insight into China’s motivations right here.