A Look at Retail Gold Demand in China
Bill Bonner, Addison Wiggin, Chris Mayer, and Joel Bowman just recently returned from a trip to China. They described the scene but, due to tight security, they weren’t able to film the gold market there. Fortunately, the UK’s Sky News has been able to take some footage.
China’s now the number one consumer of gold, speculating on its increasing price. Instead of simply fretting about the instability of euros and dollars they are turning to the safety of gold bullion. Especially now, with China producing more gold than South Africa, it’s become a country that’s able to support its domestic demand.
Gold, like Chinese real estate, could be in a bubble, but looking at the active gold market, it’s an asset with plenty of room to see value keep heading higher.
This clip came to our attention via The Mess That Greenspan Made. You can watch the video below.