07.05.2013 - "Gold rush" reveals scant investment options
Though credited with stabilizing gold price, the recent gold-buying spree in China reveals a lack of investment options for Chinese households looking to retain asset value. Despite a new price swing, the precious metal will stay buoyant at 1,542 US dollars per ounce for 2013, thanks in part to strong retail demand from China and India, predicted HSBC recently. Chinese households came under the spotlight with their generous purchase of the yellow metal amid a growing chorus to short-sell gold to shore up the dollar and the US economy. Chinese buyers have swarmed into retail stores in the mainland and Hong Kong over the past two weeks, snapping up 300 tons of gold, according Chinese media reports...............................................Full Article: Source
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