The price of gold has fallen by 15% from its historical high. When the outside world debates whether gold is still worth investing, they may have overlooked the most important Chinese factor.
As the world’s largest gold producer, China’s gold is still not self-sufficient. The latest figures show that the amount of gold imported from Hong Kong by the Mainland in the first quarter increased by more than five times year-on-year and will soon replace India as the world’s largest gold consumer.
At present, both long and short sides of the market hold their own words. Bearers point out that the golden bull market cycle that began in 2000 has already ended. Those who look at more often believe that the Chinese data release a positive signal that there is no bubble in gold prices. Currently, it is a good opportunity for long-term investors to purchase gold.
China's gold imports have risen sharply According to data released by the Hong Kong Census and Statistics Department recently, from January to March this year, Hong Kong's exports and exports to the Mainland increased from 19729 kg in the same period last year to 135,529 kg. In March, exports and re-exports amounted to approximately 62,907 kg, an increase of 59% from February.
The World Gold Council predicts that China is expected to become the largest gold market of the year this year. Last year, the total demand for gold in India was 933.4 tons, compared with 769.8 tons in China.
According to data from the 2012 Shanghai International Jewellery & Gem Fair, China's gold consumption was about 750 tons in 2011, of which gold jewellery demand was about 500 tons, an increase of 16% year-on-year, and investment demand exceeded 250 tons.
The data also shows that in 2011 China's investment in gold bars reached over 250 tons, up 45% from the 141.9 tons in 2011. The volume of gold traded on the Shanghai Gold Exchange was about 25,000 tons, an increase of 0.2 million tons over 2010, and the transaction value increased by 37%.
According to statistics released by the Hong Kong Census and Statistics Department, 360.975 tons of gold exported from Hong Kong to the Mainland in 2011 was used. As the world’s largest gold producer, China’s gold output was 361 tons, but domestic gold production is still in short supply.
As rising income and real estate control measures boosted the purchase of gold, Chinese gold demand rose. "It is expected that China's demand will be very strong this year," said Nick Trevethan, senior commodities strategist at ANZ. "While this is mainly related to prices, the negative real interest rates should keep demand strong."
Long-term investors or ushered in the opportunity for the acquisition of how to interpret the above import data, independent investor Robert Hallberg said in its report that the price of gold has recently fluctuated, but China's gold-related data has given positive signals and the price of gold may have fallen to the bottom.
According to Robert, the Chinese government usually does not publish data on gold purchases. Investors choose to use Hong Kong's gold inflows into the Mainland as a benchmark. Therefore, judging that China is buying gold in large quantities is safer, and China may become the largest gold importer in 2012.
Independent analyst Faisal Humayun stated in his report that there is no bubble in gold prices and the market outlook will continue to rise further. He said that the fall in the price of gold from a record high in 2011 does not mean that the bull market with gold prices that has lasted for more than 10 years is about to end. On the contrary, it is a good time for long-term investors to purchase gold.
FaisalHumayun also said that another decisive factor supporting the price of gold is that the European debt issue and the U.S. economy are a persistent issue. This will eventually lead to greater quantitative easing.
Gold analyst Feng Liang said that the US non-farm payrolls data released last weekend was worse than expected. Originally, it should stimulate the price of gold to rise. However, from the market reaction, the pattern of weak gold prices will continue. In the traditional sense, every year from March to August is In the off-season demand for gold, the anti-season rally in 2011 will not be repeated. It is expected that the short-term international gold price will be lowered to 1600 US dollars/ounce. “From the long-term perspective, the pattern of the gold bull market has not changed, and the long-term bullion is still bullish on gold.â€
As the world’s largest gold producer, China’s gold is still not self-sufficient. The latest figures show that the amount of gold imported from Hong Kong by the Mainland in the first quarter increased by more than five times year-on-year and will soon replace India as the world’s largest gold consumer.
At present, both long and short sides of the market hold their own words. Bearers point out that the golden bull market cycle that began in 2000 has already ended. Those who look at more often believe that the Chinese data release a positive signal that there is no bubble in gold prices. Currently, it is a good opportunity for long-term investors to purchase gold.
China's gold imports have risen sharply According to data released by the Hong Kong Census and Statistics Department recently, from January to March this year, Hong Kong's exports and exports to the Mainland increased from 19729 kg in the same period last year to 135,529 kg. In March, exports and re-exports amounted to approximately 62,907 kg, an increase of 59% from February.
The World Gold Council predicts that China is expected to become the largest gold market of the year this year. Last year, the total demand for gold in India was 933.4 tons, compared with 769.8 tons in China.
According to data from the 2012 Shanghai International Jewellery & Gem Fair, China's gold consumption was about 750 tons in 2011, of which gold jewellery demand was about 500 tons, an increase of 16% year-on-year, and investment demand exceeded 250 tons.
The data also shows that in 2011 China's investment in gold bars reached over 250 tons, up 45% from the 141.9 tons in 2011. The volume of gold traded on the Shanghai Gold Exchange was about 25,000 tons, an increase of 0.2 million tons over 2010, and the transaction value increased by 37%.
According to statistics released by the Hong Kong Census and Statistics Department, 360.975 tons of gold exported from Hong Kong to the Mainland in 2011 was used. As the world’s largest gold producer, China’s gold output was 361 tons, but domestic gold production is still in short supply.
As rising income and real estate control measures boosted the purchase of gold, Chinese gold demand rose. "It is expected that China's demand will be very strong this year," said Nick Trevethan, senior commodities strategist at ANZ. "While this is mainly related to prices, the negative real interest rates should keep demand strong."
Long-term investors or ushered in the opportunity for the acquisition of how to interpret the above import data, independent investor Robert Hallberg said in its report that the price of gold has recently fluctuated, but China's gold-related data has given positive signals and the price of gold may have fallen to the bottom.
According to Robert, the Chinese government usually does not publish data on gold purchases. Investors choose to use Hong Kong's gold inflows into the Mainland as a benchmark. Therefore, judging that China is buying gold in large quantities is safer, and China may become the largest gold importer in 2012.
Independent analyst Faisal Humayun stated in his report that there is no bubble in gold prices and the market outlook will continue to rise further. He said that the fall in the price of gold from a record high in 2011 does not mean that the bull market with gold prices that has lasted for more than 10 years is about to end. On the contrary, it is a good time for long-term investors to purchase gold.
FaisalHumayun also said that another decisive factor supporting the price of gold is that the European debt issue and the U.S. economy are a persistent issue. This will eventually lead to greater quantitative easing.
Gold analyst Feng Liang said that the US non-farm payrolls data released last weekend was worse than expected. Originally, it should stimulate the price of gold to rise. However, from the market reaction, the pattern of weak gold prices will continue. In the traditional sense, every year from March to August is In the off-season demand for gold, the anti-season rally in 2011 will not be repeated. It is expected that the short-term international gold price will be lowered to 1600 US dollars/ounce. “From the long-term perspective, the pattern of the gold bull market has not changed, and the long-term bullion is still bullish on gold.â€
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