In part four of Jan Skoyles and Koos Jansen’s look into China’s gold market they turn their attentions to the individuals behind the moves to get China investing in gold. In our infographic we highlight the top ten. Read on to find out more about these individuals and some of their contemporaries.
Leaping toward six-week highs for Eurozone investors, gold initially dropped $5 per ounce, and then rallied $15, before returning to the $1,317 per ounce level seen throughout what traders called "soporific, slow" dealing so far this week.
In the last 100 years China’s gold mine productivity has climbed from just 4 tons of gold in 1949 to an expected 440 tons this year, none of which is exported. Hong Kong imports have been more than 600 tonnes this year alone, but still more gold is demanded.
The Chinese central bank in its draft policy issue Monday proposed various measures to boost gold imports by the country, which is likely to position itself as the world’s top gold consumer toppling India.
The global rally for gold underway since late June will soon translate to juniors, says Brien Lundin. With so many undervalued companies in safe North American jurisdictions, he sees no reason to add sovereign risk to a portfolio.
Late summer, autumn and early New Year are the seasonally strong periods for the gold market due to robust physical demand internationally. This is the case especially in Asia for weddings and festivals and into year end and for Chinese New Year when China stocks up on gold.