Gold Demand Rises In China | The Mesh Report

Gold Demand Rises In China

Mike Hammer April 27, 2017 Comments Off on Gold Demand Rises In China

While Western gold traders and consumers shy away from shiny metals, the Chinese are stepping up purchases.  Thursday’s gold sales report by the China Gold Association showed demand rose 14.7% in the first quarter of 2017.  “Gold ornament” sales rose just 1.4% – we assume that is basically jewelry.  Gold bar sales rose a very strong 60-plus percent!  That’s what we call “rising interest in gold.”  The report also noted the Chinese public is becoming more aware of gold’s attributes.  That seems to imply there is still an educational process happening with Chinese investors.  Still, nothing says “we want it” quite like buying a large chunk, and by large chunk we mean bars of gold baby!  Humor aside, your Gold Enthusiast finds it interesting that Westerners buy less when prices are depressed, while Easterners buy more at the lower price.  Must be a correlation between playing the world’s most strategic game – Go – and investing in precious metals.

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