The rise of China, the world's most populous nation, is moving influence and assets from West to East. And this is having a dramatic effect on the gold market. China's efforts over the last two decades to modernize and urbanize its economy have created a burgeoning middle and upper class with growing disposable income and net worth.
China has a long-time affinity toward gold. For the past several years, it's consistently been one of the top two gold consumers worldwide. (India holds the title of No. 1 gold consumer – for now.) China is also the world's largest gold producer. So it stands to reason that China would want to exert more influence over the gold market – and gold prices...............................................Full Article: Source
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