Author Topic: Mainland Chinese shoppers invest billions in gold - Shanghai China Morning Post  (Read 1318 times)

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Offline Panda Halves

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23APR13

http://www.scmp.com/business/money/spending/article/1219963/mainland-chinese-shoppers-invest-billions-gold

More paper exchanges for physical gold in Asia....

Excerpt from the above link:

"Hennecke thinks mainland shoppers want physical gold because they, like many other investors, lack faith in paper investments - gold ETFs, certificates or mining shares.

He says research from the World Gold Council, an industry body, shows there is 78 times more "paper gold" (ETFs, certificates and the like) than actual physical gold.

"Most of the Chinese are not so stupid as to trust an ETF," he says."

Reference: - Shanghai China Morning Post

Offline Panda Halves

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22APR13

http://www.proactiveinvestors.com.au/companies/news/42300/gold-price-fall-lures-chinese-buyers-42300.html

"Beijing's largest gold dealer Caishikou reported no gold bars were left in its storerooms or vaults, completely sold out as the gold price lured bullion buyers to buy at bargain prices."