男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Money

China's demand for gold to keep rising

By Fayen Wong (China Daily)
Updated: 2011-05-28 09:48
Large Medium Small

China's demand for gold to keep rising

A customer selects gold jewelry in a store. Gold imports will continue to grow, according to the GFMS consultancy. [Photo / China Daily] 


SHANGHAI - Chinese demand for gold bars and coins as private investments could push bullion imports above 400 tons in 2011, the leading global consultancy GFMS said on Friday.

Increased appetite for silver investment products too, combined with a forecast 16 percent annual growth in industrial demand, means China's total silver consumption could outstrip domestic supply this year, said Philip Kalpwijk, executive chairman of GFMS.

"There is a widening demand for silver as an investment in China because of its lower entry point. It is also being increasingly recognized as an physical investment asset, which will support demand," Kalpwijk told a conference in Shanghai.

The Chinese government does not publish official statistics on gold imports but the World Gold Council said the country produced 340 tons in 2010.

Last year, total consumption was about 700 tons, leaving a gap of around 300 tons made up either by imports or sales of existing stocks.

The surge in imports, which jumped fivefold last year, has turned China, already the largest bullion miner, into a major overseas buyer. GFMS forecasts imply that imports will continue to grow at a robust pace despite high gold prices.

The explosive demand has been stoked by concerns about inflation and poor returns in the stocks and property sectors. It also been aided by Beijing's encouragement of retail consumption, such as expanding the number of banks allowed to import bullion.

GFMS said China's investment demand for gold could hit 300 tons this year, up from 200 tons in 2009. Investment demand for silver stood at around 260 million tons in 2010, the group said.

Related readings:
China's demand for gold to keep rising HSBC expects glitter in gold market
China's demand for gold to keep rising WGC issues glowing report on gold demand
China's demand for gold to keep rising China's gold output up 4.63% year-on-year in Q1
China's demand for gold to keep rising Massive gold coin auctioned for 7.7m yuan in Beijing

China National Gold Group Corp predicted that China's bullion output could reach 400 tons by 2014, a gain of nearly 19 percent from 2010. Consumption was set to grow by nearly a quarter to 700 tons, implying a supply shortfall of about 300 tons in three years.

Demand from China, along with inflation concerns amid a weak dollar, has pushed gold prices to a series of record highs.

Bullion struck a record above $1,575 in early May. Silver touched a record at $49.51 in late April before falling sharply on a broad sell-off in commodities and after exchange operators in Shanghai and New York raised the amount of money required to trade.

Gold's decade-long price rally could take the metal above $1,600 an ounce by the end of the year, GFMS said.

The investment frenzy in China has also led to booming trading volumes in the spot and forward markets on the Shanghai Gold Exchange (SGE), said the exchange's president Wang Zhe.

Total gold traded on the exchange rose 28.5 percent from a year ago to 6,051.5 tons in 2010, while the total turnover jumped 57 percent. The trading volume for silver was 73,615 tons in 2010, a meteoric 353 percent rise from a year ago, Wang told a conference on Thursday.

The SGE, China's only specialized precious metals exchange, started a trial of over-the-counter trading in April and is studying ways of establishing a platform to provide open gold lease rates in China.

China National Gold Group's President Sun Zhaoxue said Beijing's move to consolidate the gold-mining sector, improve technology and encourage exploration at depths exceeding 1,000 metres would combine to boost underground reserves and output.

China's gold output in the first three months of 2011 totaled 73.4 tons, up 4.6 pct from the same period in 2010, the Ministry of Industry and Information Technology said.

Reuters

分享按鈕
主站蜘蛛池模板: 吴江市| 阿拉善盟| 嘉义县| 江门市| 永安市| 射洪县| 拜城县| 北京市| 铁岭市| 勃利县| 麦盖提县| 克什克腾旗| 台中市| 那曲县| 怀安县| 庆云县| 阳朔县| 崇左市| 金门县| 平凉市| 德昌县| 阳谷县| 姚安县| 咸宁市| 建水县| 尚志市| 神木县| 泾川县| 奉节县| 侯马市| 黎平县| 和林格尔县| 合阳县| 白城市| 云浮市| 和龙市| 呼图壁县| 定边县| 车险| 宁乡县| 鄂尔多斯市| 黑山县| 连南| 兴安盟| 东丰县| 南开区| 高雄市| 澄城县| 梅州市| 汤原县| 长乐市| 岳阳市| 玉龙| 平陆县| 修水县| 永仁县| 红原县| 九江县| 灵台县| 林芝县| 西青区| 青河县| 莲花县| 米泉市| 邢台县| 阜新| 康乐县| 桐柏县| 余干县| 南陵县| 锦州市| 义乌市| 五常市| 玉田县| 常宁市| 本溪市| 修水县| 精河县| 太和县| 于都县| 临清市| 元谋县|