Chinese Citizens Are Hungry for More Gold

Filed in commodities, Gold, Gold Prices, New Gold, o, silver, South African Gold by on February 16, 2011 0 Comments

Filed under: China , Commodities China is allowing its citizens to buy physical gold bars . This new program is unleashing an unbridled demand for the metal. The program works this way: The Industrial & Commercial Bank of China (ICBC), China’s largest, sells the bars to customers at real-time prices. Persons who own the bars can resell them to the bank. To give you an insight into the magnitude of these sales, here are a few statistics. The ICBC sold 7 tons of bullion in January alone. In all of 2010, sales were only 15 tons. Continue reading Chinese Citizens Are Hungry for More Gold Chinese Citizens Are Hungry for More Gold originally appeared on BloggingStocks on Wed, 16 Feb 2011 12:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

The rest is here:
Chinese Citizens Are Hungry for More Gold

Tags: , , , , , , , ,

About the Author ()

Leave a Reply

Your email address will not be published. Required fields are marked *