Archives for May2011

China Keeps on Buying More Gold Resources

China National Gold Seeks Africa Investment as Bullion Trades Near Record

By Bloomberg News – May 29, 2011 10:02 PM ET

China National Gold Group Corp., the state-owned company that controls the nation’s largest gold deposits, wants to invest in projects in Africa as it expects bullion to trade near record levels for the next three years.
“We aim at large-scale mines with good potential in countries that have close ties with China and domestic stability,” President Sun Zhaoxue, 48, said in an interview in Shanghai. “Gold prices will foreseeably fluctuate at historically.   LINK…

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Asian Tiger Sinks Teeth Into Gold

Sourced from: Jesse’s Cafe Americain
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Frank Talk, May 23, 2011

The World Gold Council (WGC) released its quarterly “Gold Demand Trends” report last week and, as always, it was filled with fascinating data on the strength of the global gold market. Gold demand grew 11 percent to 981.3 tons during the first quarter of 2011, worth $43.7 billion at quarter-end’s price levels.

The increase was driven by a significant rise in demand for gold as an investment, up 26 percent from a year ago, as emerging markets look to protect their assets from rising inflation. Demand for gold bars and coins was up 62 percent and 42 percent, respectively.  LINK…
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NOTICE: The Chinese were NOT allowed to own Gold during the 1970’s bull market in Gold. Now we have 1.5 BILLION Chinese buying Gold!  BK

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