gold price trend

2011年7月27日 星期三

U.S. debt negotiations affect gold price

U.S. debt negotiations affects gold price

U.S. debt negotiations stalled, so that nervous investors sought safe-haven assets, making the price of gold remained steady above $ 1,600 an ounce. But in the world's second largest gold consumer China, a record price of gold has been the name people corrugated brow.

Almost always enthusiastic Chinese buyers began to doubt whether the price of gold has been too high. Over the past year, Chinese demand for physical gold soared, helped make last year, China's gold imports increased by 4 times.

The key driver behind the growth is selling gold bars, gold bars in China generally people buy for investment or as a gift. According to the World Gold Council (World Gold Council) data, the first quarter of this year, China's gold bullion sales more than doubled year on year growth, China has become the world's largest buyers of gold bullion and gold coins. However, anecdotal evidence shows that the price of gold shining bright this week has caused some investors to gold reflections.

"Yangzi Evening News" published an article describing Wuxi gold bullion buyers realized the scene: in Wuxi, China Gold Zhongshan Road, the store Mr. Sun told reporters, with gold prices soaring, two days to the store to gold a lot more than people realized, and most of them are purchased late last year and early this year, gold, and you figure they make a lot.

This is according to reports, 620 million people in Wuxi City, the rise of gold fever last year, an estimated annual public purchase of 7.3 tons of gold jewelry and gold bars

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