[NEWS] Record prices spawn new wave of China gold bugs

Discussion in 'Modern Chinese Coins & Medallions' started by yennus, Aug 29, 2011.

  1. yennus

    yennus Well-Known Member Silver Stacker

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    "Demand from the world's most populous country, which is adding hundreds of thousands of people to the ranks of affluent and middle-income consumers every year, implies that the long-term price floor for gold is set for a steady increase."

    "Many Chinese investors and consumers see price corrections as buying opportunities. The view that gold is an enduring store of value is firmly rooted in Chinese cultural traditions," said Hou Xingqiang, a gold analyst at Jinrui Futures.

    "Gold's rally over the past two years and the debt worries in the West have only strengthened Chinese investors' belief that they need to own the metal as an investment asset."

    http://www.reuters.com/article/2011/08/29/us-china-gold-demand-idUSTRE77S15X20110829
     
  2. 940palmtx

    940palmtx New Member

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    Nice article. It only stands to reason that as China's economy and personal household wealth rises so will their Gold consumption. I don't pretend to be an expert at anything, least of all PMs, but I an see no real downside to increasing one's holdings of PM's. I still look for a deal here and there on NASDAQ and I know 'experts' recommend no more than 10-15 percent of assets in PM, but I have wayyyyy more than that in PMs.....which isn't a helleva lot total LOL
     

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