China’s Demand For Gold likely to hold steady in 2017

China’s Demand For Gold likely to hold steady in 2017


Welcome to illuminati silver, we tell you
the truth about silver. Today is Tuesday 18th October 2016 and we
are briefly looking at an article published by Reuters in Money News Singapore Yesterday
afternoon. The Article quotes:
‘Demand for gold from China will remain strong at around 900-1,000 tonnes next year,
near 2015 and 2016 levels although a weaker appetite for jewellery and slowing economy
could curb purchases’, Roland Wang Managing Director for China at the World Gold Council
told Reuters at an industry conference in Singapore yesterday.
This Continued firm demand from China should help underpin global benchmark gold prices
that have come off two-year highs as expectations of a U.S. interest rate hike by the year-end
strengthened the dollar. But the precious metal remains up 18% for 2016, following a
three-year decline.’ According to Wang “A weaker yuan is also
pushing investors to gold.” So there we have it, China being one of the
most aggressive buyers of gold, are likely to purchase similar levels in 2017 to that
purchased last year and envisaged this year. This may indeed please those who believe that
this will maintain some underpinning of price, but disappoint those who were hoping that
a substantial increase in China’s purchases was likely.
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9 Comments

  1. Just wanted to comment about what we apparently know about China, or at least what we think we know. Also wanted to say although we know China is buying gold, what prevents the US from buying gold but not reporting it? Possible? Maybe, but would that not be a big surprise to find the US has been buying all along!

  2. If China is wise and plan for the longer term, and they probably are, they surely will moderate themselves and not buy much more gold yearly then they have been doing, so as not to put a too high upward pressure on the gold.

    But, then again, i understand that they now are buying foreign goldmines, and that gold would not be registered in the goldmarkets.. So its a wise way to accumulate more gold internationally, without it being registered officially..
    This, on top of their own domestic production.

    And as the new presient in the Philipines, Duterte, makes way for closer relationship with China, i am sure China would love some of that Philippine gold.. 🙂

  3. Does anybody know about anything…. Not a chance… It's all a crap shoot… My feeling gold and silver have only one way to go and that is up, up and away. How soon… Who knows but when it happens it will be big…

  4. I've read where China is sending all it's gold to the New York Federal Reserve. The Fed controls the gold market, whether we like it not. They own it all.

  5. It is really hard to for me to predict how China will do in the future in relation to the rest of the world. On one hand, they do have some bubbles to pop. On the other hand, their recent growth and demographics tell me they will continue to grow and eventually dwarf the US and EU. Thoughts? Of course, they also have their fiat currency working against them.

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