China, the world's second largest gold consumer, imported approximately 209 metric tons through the first ten months of 2010, up from 45 tons in all of 2009, according to the Shanghai Gold Exchange.
Gold futures were up for a second day on Tuesday, climbing to a daily high, following a report showing that Chinese consumer prices rose less-than-expected in January.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1,365.15 a troy ounce during European morning trade, climbing 0.22%.
It earlier rose to a daily high of USD1,366.75 a troy ounce.
China’s statistics bureau said consumer prices rose 4.9% last month from a year earlier compared with a 4.6% gain in December, disappointing expectations for a 5.4% increase.
The weaker-than-expected inflation figure eased concerns of more aggressive monetary tightening measures by Beijing that could curb demand for the precious metal.
| Our basic needs are: Air, Water and Food. |
| Recent Articles : |
No comments:
Post a Comment