China On Track To Replace India as Largest Gold Consumer

choi

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(1) Leslie Hook and Robert Cookson, China Sees Gold Import Surge As
Investors Search for Safe Haven. Financial Times (FT), Dec. 3, 2010.

Paragraphs 3 & 4:

"The surge of the import--more than 209 tonnes of gold during the first 10
months of the year, a fivefold increase from an estimate of 45 tonnes last
year – was revealed on Thursday. In the past, China has kept the volume
secret.

“'Investment is really driving demand for gold,' said Cai Minggang, at the
Beijing Precious Metals Exchange. 'People don’t have any better investment
options. Look at the stock market, or the property market – you could make
huge losses there.'

My comment: There is no need to read the rest.

(2) Robert Cookson and Leslie Hook, China gold boom sparks wave of
counterfeits. FT, Dec. 3, 2010.
http://www.ft.com/cms/s/0/67dc062c-fe45-11df-abac-00144feab49a.html
("In one case, executives discovered a pure gold coating that masked a
complex alloy with similar properties to gold. The fake metal included a
significant amount of bullion, about 51 per cent of the total, alloyed with
seven other metals: osmium, iridium, ruthenium, copper, nickel, iron, and
rhodium")

My comment:
(a) The Chinese Gold & Silver Exchange Society 金銀業貿易場
http://www.cgse.com.hk/
(b) One may need to register with FT to read the report.

※ 修改:．choi 于 Dec  3 18:36:25 修改本文．[FROM: 129.10.0.0]