Global gold trading turnover a day is slightly higher than USD1 billion, if my memory serves me right, as compared to almost a trillion dollars of fx turnover each day. Gold has appreciated from low $200s to the current $440 in the latest commodities bull run. If someone is still touting gold, which is nothing more than a piece of heavy metal with not much fancy usage in today's world, I doubt his motif... Gold and gold equities is not an option for asset allocation of Chinese fx reserves.
