Tag: gold in china

Chinese Gold Rush Underway

Chinese Gold Rush Underway

The chart depicts the explosion in Chinese gold imports from Hong Kong since January 2012, during which China imported an astonishing 1,206 tonnes of gold – 20% more than the nation’s latest official gold holdings of 1,054 tonnes. In the first quarter of 2013 alone, China imported 372 tonnes from Hong Kong, or nearly what was imported through the entire first half of 2012.

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China Accelerates Gold Accumulation

China Accelerates Gold Accumulation

As far as the first three months of 2013 concerns, China’s gold usage mounted to 320 tonnes. That figure is a combination of the Chinese production and the import from Hong Kong. The incredible spike came in the month of March. China’s net gold inflows from Hong Kong rose to 223.519 tonnes.

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Chinese Gold & Silver Exchange Sold Out Of Bullion

Chinese Gold & Silver Exchange Sold Out Of Bullion

The list of evidence and testimonials of an explosion in PHYSICAL gold and silver demand keeps on growing. Here is now the President of the Chinese Gold & Silver Exchange Society, who testifies on Bloomberg that their exchange is sold out of gold bullion. The delivery time is increasing as they rely on shipments out of Switzerland and London.

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Demand For Gold In The East Remains Explosive

Today, another astonishing figure hit the wires. This time it is Dubai who announces a staggering $ 70 billion of gold traded in their Dubai Multi Commodities Centre in 2012. China announced that 97.106 tonnes were imported in February 2013. To us, this evolution simply explains that gold is leaving the West and is massively hoarded in the East.

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Cyprus & Gold – Noise vs Facts

| April 10, 2013 | Articles: General

Let us be very clear on this. The Central Bank of Cyprus today announced openly and officially that no talks are ongoing about this subject. What does it tell about the reliability of news coming out of mainstream media related to gold? Correct, the mainstream media simply do not understand the gold market, set aside the dynamics within the precious metals market.

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Gold Price Manipulation Makes You Go Hmmm …

| November 29, 2012 | Articles: Insights

Grant Williams was one of our guests recently, as we had the honour to conduct an interview about his views on QE and the prospects of gold. He is the editor of the newsletter Things That Make You Go Hmmm …, an electronic magazine that is full of economic insights (the true ones, not the ones that are manipulated or created by one or another propaganda machine). In the latest edition, he writes an exclusive and in-depth section about the role of the central bank in the gold market. It is linked to one of the articles we published ealier about the “dusty” situation of the central banks’ real gold reserves and their involvement […]

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Gold In China – Update November 2012

| November 16, 2012 | Articles: General

Lots of news is coming out of China these days. We’ve selected the three most valuable insights and quote them in this article. Today Mineweb wrote that gold demand in Q3 had fallen compared to a year earlier and that the decrease was due to decreased demand out of China as the Chinese economy is slowing down. Global gold demand dropped 11 percent in the three months to September from record levels seen in the same period last year, dampened mainly by fading Chinese fervour as its economy slowed, with stronger Indian demand stemming a larger fall, the World Gold Council said. Chinese gold consumption fell 8 percent in the July […]

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Physical Gold Demand: Secrets To Be Unveiled ?

| November 11, 2012 | Articles: Insights

With news hitting the wires about the central banks’ gold holdings being questioned, the pressure for transparency is increasing. GoldMoney published a podcast in which Jim Willie is being interviewed about the situation in the physical gold market, especially triggered by the latest stories of central banks’ gold. Jim Willie is known for the inside information he gets from various sources deep into the gold market, apart from his “ultra-direct” style. Some of the statements he made are well worth reflecting. We collected some highlights which you can find below. The situation in the physical gold market can be summarized as being incredibly tight. Both Jim Willie and the host Alasdair Macleod agree […]

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Gold & Silver Rise as China’s Long-Term Demand Forecast to Keep Growing

Wholesale prices to buy gold rose to 7-session highs in London on Thursday morning, touching $1726 per ounce even as new data showed US employment rising at its fastest pace since February. The private-sector ADP payrolls report said the US added 158,000 jobs in October. Earlier data from the manufacturing sector in China, the world’s #2 gold consumer, showed its slowdown to be easing. However, “Over 17% of survey respondents reported a fall in the volume of new export orders,” said the new Purchasing Managing Index report from HSBC/Markit Economics, “and just under 10% noted an increase.” Two-thirds of Chinese businesses reporting quarterly results to the stock market have seen a […]

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Does China Plan a Gold-backed Renminbi?

| August 19, 2012 | Articles: Insights
Does China Plan a Gold-backed Renminbi?

We expect the Chinese central bank to continue gradually accumulating gold, and we think that it might be planning a gold backing for the renminbi. If that were to happen, international acceptance would soar. Not for nothing was the enormous amount of gold reserves in the United States (N.B. the US reserves were at 29,663 tonnes in 1953) along with military dominance a central reason for the US dollar becoming the global reserve currency. Since the Chinese current account surplus has been on a steady decline, the widely held opinion of the massive undervaluation of the Yuan seems to become more susceptible to questioning as well. Therefore, a quick internationalisation would […]

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Many Factors are conspiring to create the Perfect Scenario for Gold Prices to go Much Higher

The latest economic data released this morning showed slightly better than expected GDP data from France and Germany. French GDP growth came in flat which was better than expectations of a contraction of 0.1% quarter-on-quarter. And, Germany, Europe’s biggest economy grew by 0.3% between April and July, compared to analysts’ forecasts of 0.1% mainly due to its strong exports. However, overall Eurozone GDP data for the second quarter shrank by 0.2%. Meanwhile the latest GDP figures from Japan were weaker-than-expected. Japan Q2 GDP increased by only 0.3% quarter-on-quarter which was below expectations of an increase of 0.6%. And, the Greek economy, struggling in a fifth year of recession, shrank by […]

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Miners Are Unlocking China’s Gold

China may be investing billions elsewhere to locate new mineral deposits, but Geologist Noel White believes there are huge discoveries yet to be unearthed within its borders. White, an independent geological consultant with Enargite in Brisbane, Australia, says China’s history and politics have slowed development of its mining at home. In this exclusive interview with The Gold Report, White reveals which companies have boots on the ground and the expertise to make the next big strike in China and South America. Companies mentioned: ASIA NOW RESOURCES CORP. – MINERA IRL LTD. – RIO TINTO The Gold Report: Noel, you’re a geologist with about a 40-year history in mineral exploration. These days, public companies pay […]

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Silver correction putting miners under pressure

Silver correction putting miners under pressure

After weeks of sailing on troubled waters, the silver market is giving mixed signals. Analysts are struggling to discern whether or not the metal will be able to consolidate above resistance at $28.50, or whether silver is still in danger of further sell-offs. Much will depend on developments in the US dollar market and the global economy – a view shared by Randy Smallwood, president and CEO at Silver Wheaton, a Vancouver-based silver-streaming company. The euro crisis has been a big depressing influence on commodity markets in recent months. With the continent’s debt crisis getting worse by the day, many investors are being drawn to the dollar. Most are confident […]

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Gold Prices Just Tracking the Dollar while Spain Bailout Could Start Small and End Big

Gold Prices Just Tracking the Dollar while Spain Bailout Could Start Small and End Big

Gold Prices fell back below $1600 per ounce Monday morning in London, after briefly rallying above that level in Asian trading, as stocks and the Euro also began the week strongly and US Treasuries fell following news that Spain is to receive a bailout. Silver Prices also jumped as Asian markets opened, before they too traded lower, falling to around $28.70 per ounce ahead of the start of US trading. Euro Gold Prices by contrast rallied shortly before US open, climbing to €40,880 per kilo (€1271 per ounce) as the Euro gave back most of its early gains against the Dollar. “Gold seems to be primarily tracking one trend, namely the trend in the […]

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