在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Business

Demand for gold at record high in Q1

By Cai Xiao | China Daily | Updated: 2013-05-17 07:43

Demand for gold at record high in Q1

China's gold demand jumped to a record high in the first quarter despite a global drop of 13 percent, according to a report released by the World Gold Council on Thursday.

Gold jewelry demand in China surged to a record quarterly value of 60.3 billion yuan ($9.8 billion), the council said.

Traditional Spring Festival-related gold buying and gifting was augmented by a rebound in sentiment regarding the strength of the domestic economy.

China and India accounted for a combined 62 percent of global jewelry demand in the first quarter.

China posted a new record for quarterly investment in gold bars and coins as positive seasonal factors worked in tandem with gold's enduring investment appeal. Demand grew to 109.5 metric tons, compared with a five-year quarterly average of 43.8 tons.

The Spring Festival period fueled buying in January, but demand was supported throughout the rest of the quarter as Chinese investors, discouraged by the weak domestic stock market, increasingly relied on gold to fulfill their investment needs.

The announcement in February of impending controls to be placed on the property market placed further emphasis on gold as an investment option.

Retail investors in China, India and the United States were at the forefront of investment demand in the first quarter, as evidenced by the strong rise in demand for gold bars and coins in those markets.

Global gold demand in the first quarter totaled 963 tons, decreasing 13 percent year-on-year as strong growth in consumer demand for gold jewelry, bars and coins was exceeded by substantial net outflows from gold exchange-traded funds.

"ETF data in the first quarter cannot reflect the true trading because gold can be borrowed," Hong Hao, managing director and chief strategist at BOCOM International Holdings Co Ltd, told China Daily.

The report also said the net result was an outflow of 176.9 tons from gold ETFs. However, it represented a decline of just 7 percent in total gold ETF holdings over the period.

Hong said the gold price declined due to factors including global deflationary pressure, investor George Soros' operations and a rally in the US dollar.

According to Hong, central banks in China, Germany, Switzerland and France will continue to buy gold.

Central banks added 109.2 tons of gold to their reserves in the first quarter, the ninth consecutive quarterly net purchase.

"Although within four to eight weeks, the gold price may continue to fall, it's a good time for long-term investors to buy gold because it will be of great potential in the long term," said Hong.

Marcus Grubb, a managing director at the World Gold Council, said: "The price drop in April proved to be the catalyst for a surge of buying that has left many retailers short of stock and refineries introducing waiting lists for deliveries. Putting this into context, sales of bars and coins, jewelry and consumption in the technology sector still make up 81 percent of the market.

"Overall, the long-term appetite for investment remains strong, demonstrated by the continued demand for bars and coins," Grubb said.

Gold dropped below $1,400 on Thursday, approaching prices not seen since its historic plunge a month ago.

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 日本xxxwww| 久久久精彩视频 | 黄色网址在线免费观看 | 日韩欧美精品在线 | 国产欧美精品一区二区三区 | 成人免费视频在线看 | 欧美日韩在线精品 | 国产精品一区二区久久久 | 亚洲成人精品 | 一区二区日韩精品 | 日本天堂一区二区 | av电影一区| 视色网站 | 午夜精品视频在线观看 | 波多野结衣 一区二区三区 国产在线中文字幕 | 欧美一区二区三区在线视频 | 亚洲成人一区二区 | 一本色道久久综合亚洲精品不 | 黄色网址免费观看 | 久久久精品欧美一区二区免费 | 麻豆freexxxx性91精品 | 日韩五码在线 | 91网站在线看 | 黄色高清视频在线观看 | 国产在线专区 | 久久久国产视频 | 夜夜操com| 亚洲视频中文字幕 | 一区二区三区中文字幕 | 99久久久| 国产成人精品一区二区三区四区 | 欧美精品成人 | 日韩高清一区二区 | 成人午夜影院 | 欧美韩国日本一区 | 在线视频第一页 | 99国产精品 | 91视频播放 | 一区在线免费 | 蜜桃久久久久久 | 亚洲成年|