China Tells

Retail Gold sales in China will increase by more than 10% this year, reflecting a strong demand from Chinese people, particularly middle class with their income increasing (See Article from China Daily). Gold is traditionally a favored jewelry and asset among Chinese. In some cases Gold Bullion are passed from generation to generation. However the demand of gold has been largely curbed in the last 30 years when people’s income is not high enough and they need to feed their stomach first. With the economy growing at world’s fastest pace, Chinese are expected to spend more on Gold, especially during weddings. At the same time Gold price has passed $1000/ounce for the first time in history.

中国零售黄金需求十分强劲。据零售商预计，今年黄金首饰的销售额估计会比去年增长超过两位数。财富效应在中国得到充分的体现。人一旦有钱了，对奢侈品的需求就上来了，黄金首饰作为具有收藏价值的奢侈品自然受到人们的追捧。中国的黄金需求量目前不及印度，但是其后来追上的态势可能会将差距迅速减小。