Thursday, December 2, 2010

China, The Next Global Super Power is Buying Gold, Hand-Over-Fist

Gold Imports by China Soar Almost Fivefold as Inflation Spurs Investment

By Bloomberg News - Dec 2, 2010 4:55 AM ET

Gold demand in China gained in the first half as government measures to cool the property market and falling equities spurred investment, the gold exchange said July 7. About 70 percent to 80 percent of the imports in the first 10 months were made into mini-gold bars, which Chinese investors like to hold, the exchange’s Shen said.  LINK...

Here's an interesting view on why China is urging its citizens to buy gold. VIDEO

I must say that it does make good sense considering the condition of the U.S. economy and the weakness in the USD.  BK