China’s gold imports are on track for a sharp increase this year, with data for the first 10 months showing bullion shipments up more than four times amid rising interest among investors seeking out a hedge against inflation. Bullion imported into China in the January-to-October period totaled 209.7 metric tons, compared to 45 metric tons in all of 2009, according to reports Thursday citing figures announced by Shanghai Gold Exchange Chairman Shen Xiangrong.
The figures offer a glimpse into China’s growing appetite for gold, reflected by the rush of new investment vehicles designed to satisfy interest in the precious metal, even as the government has yet to adopt the practice of releasing official statistics on the nation’s gold trade.
Our basic needs are: Air, Water and Food.
Our Additional needs are: Aluminum, Copper, Crude, Gold, Lead, Natural Gas, Nickel, Silver, Zinc. |
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