Chinese Demand to Buy Gold

Has taken of China's population of over 1.3 billion until the tears for the purchase of gold, and do so in large numbers."We are entering a period of strong growth in demand for gold and seasonal Chinese New Year is a big part of it," said Brian Lundin, editor of Gold Newsletter. "We have been the actual demand by subsidizing the price of gold on the negative side, even during periods of recession model, and I expect that the anticipated increase in demand will support the price, too, but at higher levels."Chinese buy gold like hot cakes Chinese New Year, also known as the Lunar New Year, starts in February 3 and ending after two weeks at 15 with the Lantern Festival."Gold, silver and Chinese demand has been enormous before the New Year holiday," said Adrian Ash, head of research at BullionVault.com, the leading online service for trading gold bullion and property, pointing to comments from traders and others. He said the shipments were "heavy", and began very early, in mid-December."Chinese stocks gifts, usually money in small red envelopes Chinese New Year is the time of year when," said Mark Leibovit, chief strategist in the market for VRTrader.com. "Perhaps the small red envelopes are a little heavier this year.""It's really simple," said Carey Pinkowski, CEO Astur. "China has banned the ownership of gold for more than a century 20, and this is more of China has a savings rate of more than 30%" and "the official inflation rate of 10 percent.""The Chinese will buy more gold and more, just as every other civilization in times of inflation and high savings rates, they have the money to do it," said Pinkowski.And the purchase of gold that they are doing.According to an analysis BullionVault, based on data courtesy of GFMS World Gold Council, since 2005, witnessed during the period January-March, China's gold private household purchase an average rise of 22% over the previous nine months,"In the long term, this means that Chinese households have developed a growing proportion of the annual savings that is experiencing rapid growth in gold," said Ash, with an increasing proportion of 0.8% of the income retained in 2001 to the expectations of more than 1.7 % in 2010.To prove this, the number of savings accounts Golden opened by the Industrial and Commercial Bank Co., Ltd. China grew by more than a million With the strengthening of little or marketing, "... the pace of demand growth extraordinary," said Martin Hennecke, Assistant Director of the Group of Tyche in Hong Kong."China is in the process of overtaking India's largest buyer of gold, and national," said Julian Phillips, an editor at GoldForecaster.com. "At a minimum, the two countries takes half of newly mined gold, and this figure is rising.Chinese seems to understand the value of a cunning gold, compared with the value of Chinese currency and the demand for gold is expected to continue.