Chinese Consumers Driving Gold Train

Posted by on February 27th 2012 in Bailout, China, Federal Reserve, General Economy, Gold, IMF, India, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

Following a mid-January report that China’s consumer sector is growing faster than the overall economy, the Los Angeles Times, in a lengthy article, looks at how those consumers are impacting gold sales:  “China is now bedecking itself in bling. It’s on track to become the globe’s largest consumer of gold as early as this year, knocking off India— whose elaborate wedding dowries kept it on top for years. Some of the gold is going to its central bank as the government quietly boosts reserves. But the biggest driver is Chinese consumers. They’re snapping up jewelry, coins and bars as a hedge against inflation and to flaunt their rising wealth.”

Related Links:

MarketWatch:  Gold inches 0.1% lower on profit-taking, dollar; silver up 0.5%

Telegraph:  Can silver keep up its polished performance?

SilverSeek/GoldMoney:  Silver price rises twice as fast as gold as the eurozone floods with money; U.S. monetary base hits new record

SafeHaven:  What to expect this week for precious metals, gold stocks and dollar

KWN:  Stephen Leeb – What to look for next in gold, silver oil & copper

Bloomberg:  Rising oil prices could send gold “much higher,” says UBS

Tim Iacono:  Why this isn’t your father’s gold market

Mineweb:  Indian gold ETF investment doubled in 2011, set to surge this year

ReutersVenezuela & China partner to develop Las Cristinas gold mine

NYT/Bloomberg:  A call for Beijing to loosen its grip on the economic reins; China congress of billionaires makes Capitol Hill peers look like paupers

Zero Hedge:  Art Cashin on why the world is running out of ideas to bail itself out

James Turk:  No reprieve for Greece from debtor’s prison

ChrisMartenson.com:  Ben Davies: Greece is just a preview of what’s coming for the rest of us

Trib.com:  Wyoming House advances doomsday bill

SafeHaven:  The financial system is sick, are precious metals the cure?


Leave a Reply