27-11-2013, 05:06 PM
Gold price is well-supported by people from China and India...
China gold imports from Hong Kong rise to 2nd highest on record
BEIJING -- Gold shipments to China from Hong Kong rose in October to the second-highest on record as jewellers and retailers bought the metal to build up inventories ahead of a peak-demand season at the end of the year, the Bloomberg news agency reported.
Net imports, after deducting flows from China into Hong Kong, were 129.9 metric tons in October, from 109.4 tons in September, according to calculations by Bloomberg based on data from the Hong Kong Census and Statistics Department. Purchases reached an all-time high of 130 tons in March, with the amount in the first 10 months of 2013 more than doubling to 955.9 tons from a year earlier, the data show.
China is on course to overtake India as the world’s biggest bullion consumer, with demand poised to reach 1,000 tons this year, according to the World Gold Council. Gold has climbed 5.2 per cent from a 34-month low in June as the price drop spurred demand for jewellery, coins and bars in Asia, even as other investors reduced holdings in exchange-traded products.
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http://www.todayonline.com/business/chin...est-record
China gold imports from Hong Kong rise to 2nd highest on record
BEIJING -- Gold shipments to China from Hong Kong rose in October to the second-highest on record as jewellers and retailers bought the metal to build up inventories ahead of a peak-demand season at the end of the year, the Bloomberg news agency reported.
Net imports, after deducting flows from China into Hong Kong, were 129.9 metric tons in October, from 109.4 tons in September, according to calculations by Bloomberg based on data from the Hong Kong Census and Statistics Department. Purchases reached an all-time high of 130 tons in March, with the amount in the first 10 months of 2013 more than doubling to 955.9 tons from a year earlier, the data show.
China is on course to overtake India as the world’s biggest bullion consumer, with demand poised to reach 1,000 tons this year, according to the World Gold Council. Gold has climbed 5.2 per cent from a 34-month low in June as the price drop spurred demand for jewellery, coins and bars in Asia, even as other investors reduced holdings in exchange-traded products.
...
http://www.todayonline.com/business/chin...est-record