Wednesday, December 15, 2010

China’s Golden Surprise: A Glittering Opportunity?

December 13, 2010
Jim Trippon

This is the kind of thing that the Chinese usually keep a secret. No one knows why Beijing broke with tradition. But perhaps the news was too big to contain behind the usual wall of silence.

If you hadn’t already heard, China’s gold imports are up – way, way up. In the first ten months of the year, China’s gold imports jumped fivefold. With two months to go in the year, China had quintupled its intake of gold compared to the full year of 2009.

This is big! Remember, China is already the world’s largest producer. Yet its gold imports rose to 209 tonnes in the first ten months – up dramatically from just 45 tonnes the year before.

(2011 is the year of the rabbit in China, a year in which some say "money can be made without too much labour.")   LINK...