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Commodities Briefing - Categorized | Bullion/Gold, Investment more

New Asian investors in bullion

Posted on 10 January 2013

The recent sharp drop in gold price has caused the Asian physical demand to pick up. On Monday, the Shanghai Gold Exchange 99.99% purity gold contract’s trading volume jumped to a record high of 19,504.8kg. Chinese demand for gold generally rises before the Chinese New Year, which will begin on Feb 9.
According to the Hong Kong government, China imported 90.764 tonnes of gold in November, almost doubled from the 47.478 tonnes in October. Bloomberg calculated that during the first 11 months in 2012, gold shipments almost doubled from 392.564 tonnes a year ago to 720.091 tonnes………………………………………..Full Article: Source


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VRS - who has written 37629 posts on Opalesque Commodities Briefing.


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