Gold Falls as U.S. Pledges Support for Some IMF Bullion Sales
``If you're China, you're holding all those U.S. dollars in reserves, it wouldn't be a bad idea to swap some of that for gold,'' Gartman said.
China is the 10th-largest holder of gold amongst central banks, with just 1 percent, or 600 metric tons of gold, in its reserves, according to World Gold Council data.