男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

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

Imports of gold surge as buyers seek hedge

By Glenys Sim and Feiwen Rong | China Daily | Updated: 2012-01-12 07:53

SINGAPORE / BEIJING - The Chinese mainland's gold imports from Hong Kong surged to a record in November as consumers bought the metal before the Lunar New Year this month and investors sought to hedge against turmoil in financial markets.

The mainland bought 102,779 kg from Hong Kong in November, up from 86,299 kg in October, according to the Census and Statistics Department of the Hong Kong government.

Gold demand is climbing on the mainland as rising incomes and concerns about inflation bolster purchases. China overtook India in the third quarter as the largest gold jewelry market, according to the World Gold Council. The nation is also the world's biggest producer.

"China's appetite for gold is very strong and growing," said Tao Jinfeng, chief investment consultant at Haitong Futures Co, China's largest brokerage by registered capital.

"The few months before the Lunar New Year are typically the peak demand period for Chinese people."

Imports were profitable as prices in Hong Kong mostly traded at a discount to those in the mainland in November, according to Bloomberg calculations.

Gold for immediate delivery of 99.99 percent purity on the Shanghai Gold Exchange was at 334.35 yuan ($52.95) a gram on Wednesday, compared with HK$408.20 ($52.67) at the Chinese Gold & Silver Exchange Society.

"There is always the possibility that some purchases were made by the central bank," said Tao, rated the fourth-best China gold analyst in a Futures Daily and Securities Times poll.

The People's Bank of China last disclosed its gold reserves more than two years ago, announcing that it held 33.89 million ounces, or 1,054 tons, as of June 30, 2009.

That was the world's fifth-largest holding by country, according to World Gold Council data. Central banks and government institutions bought 142 tons in 2010, International Monetary Fund data show.

Gold climbed 10 percent last year, rallying for an 11th year, as central banks joined investors in buying bullion to diversify assets. South Korea, Thailand, Turkey and Russia were among the countries that added gold to reserves in 2011.

Bloomberg News

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: 剑阁县| 天柱县| 北流市| 全椒县| 奉节县| 夏河县| 苏尼特左旗| 安溪县| 项城市| 武陟县| 卢氏县| 灵宝市| 沛县| 桐城市| 崇义县| 横峰县| 淮安市| 林西县| 永清县| 吴堡县| 锡林浩特市| 青阳县| 通州市| 洛浦县| 建水县| 剑河县| 东宁县| 黔东| 昌都县| 库车县| 枝江市| 安阳市| 南宫市| 拉萨市| 黄浦区| 个旧市| 无锡市| 昭觉县| 定南县| 积石山| 高州市|