China - Gold's No1 Producer And Consumer Is Taking Control Of The Market
It now looks for sure that China, in 2009, overtook India as the world's largest gold consumer. The ‘Middle Kingdom' had already surpassed South Africa and the U.S. as the world's largest gold miner a year earlier.
Latest figures out of Beijing suggest that gold demand in China grew by an estimated 13.8% to around 450 tonnes in 2009, while India's estimated consumption last year is put at only around 210 tonnes - about half its consumption level in 2008. Much of the disparity last year was due to a decline in Indian buying as purchasers were put off by higher prices.
............
Gold expected to regain its shine
Barbara Drury
December 16, 2009
Uncertainty has led investors to the traditionally safe asset but it, too, has had an unpredictable year.
If you want confirmation that fear and uncertainty still rule investment markets, look no further than the gold price, which is proving more volatile than the weather.
This month the investment herd went charging for the perceived safety of gold, pushing the price to record highs above $US1200 an ounce in the face of a collapsing US dollar and fears of a stimulus-induced spike in global inflation..................
Posts
1 comment:
One gold explorer to watch closely is Beadell Resources (BDR).
I prefer iron ore and coal right now but BDR has a lot of potential.
Post a Comment