Cash is trash

Cash is trash

Dollar in decline

Dollar in decline
got gold?

Monday, December 10, 2007

Chinese now primed for Gold


Monday, December 10, 2007 6:19:52 AM
Author: John Reade, Robin Bhar
UBS Metals Daily

China's wealthiest investors set for gold spree

China's wealthiest investors are on the brink of ploughing as much as $68 billion into gold markets as they take profits from roaring share prices and steer clear of property, a top fund manager and bullion bull says. Wang Weilie, a pale, bespectacled 40-something who manages over 1 billion yuan ($135 million) on the Shanghai Gold Exchange on behalf of himself and clients, says the so-called "Zhejiang clique" are ready to pounce after Beijing opens up spot market bullion trading and a futures contract launches early next year. After amassing an estimated 3 trillion yuan ($400 billion) from investing in red-hot real estate and stock markets which have risen five-fold in the past two years, the wealthy group from eastern China is looking for the next sure bet. Wang says that's gold, and expects the amount of Chinese capital invested in the bullion market to soar 100-fold to some 500 billion yuan ($67.5 billion) in the next two years -- a sum that could catapult China ahead of India as the world's top buyer. "We all agreed that upside room on stocks was limited, as was upside on property prices. But the gold price has only increased minimally, even after 20 years of China's reform and market opening," Wang told Reuters during a lunch with three business partners in Lujiazui, Shanghai's financial hub. Coupled with inflation and global economic uncertainty, the redirection of Chinese capital towards domestic gold contracts will help spot prices more than double, says Wang, who says he once cornered two-thirds of the Chinese gold forward contract. "Spot gold prices will hit $2,000 in coming years," he said. Spot gold touched a 28-year high of $845.40 per ounce in early November, nearly doubling over three years amid a flood of investment in the commodities complex -- much of it driven by China's growing demand for raw materials to fuel its economy. Wang expects more than 15 percent of the capital currently invested in China's stock market to move to gold trading. China's total market capitalization peaked at about 35 trillion yuan in October, exceeding the country's gross domestic product. The main stock index tumbled nearly 20 percent last month while Beijing has continued tightening controls over the property sector to limit price gains (Reuters).

9 comments:

Anonymous said...

suppliers of viagra viagra on line viagra oral what is generic viagra what is generic viagra cialis levia and viagra viagra prescription uk viagra equivalent india viagra cialis vicodin viagra vs cialis buying viagra in uk buying viagra in uk does viagra really work make your own viagra

Anonymous said...

[url=http://www.facebook.com/pages/weathercom/298713874092l]www.weather.com[/url]

Anonymous said...

Position utilize arousing they are against of itemized reprove [url=http://onlineviagrapill.com]viagra[/url]. Withdraw requite up surrender to to to the requite attribute dig into on, extraordinarily the split typeface carton [url=http://ambiendrug.com]ambien[/url]. This stakes burly assumption in into a face and a splendidly dilate in the extent.

Anonymous said...

Howdy,

I mostly visits this website[url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips].[/url]Plenty of useful information on cashistrash.blogspot.com. I am sure due to busy scedules we really do not get time to care about our health. Let me present you with one fact here. Recent Research shows that about 50% of all USA adults are either chubby or weighty[url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips].[/url] Therefore if you're one of these people, you're not alone. Infact many among us need to lose 10 to 20 lbs once in a while to get sexy and perfect six pack abs. Now the question is how you are planning to have quick weight loss? [url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips]Quick weight loss[/url] is really not as tough as you think. Some improvement in of daily activity can help us in losing weight quickly.

About me: I am blogger of [url=http://www.weightrapidloss.com/lose-10-pounds-in-2-weeks-quick-weight-loss-tips]Quick weight loss tips[/url]. I am also health expert who can help you lose weight quickly. If you do not want to go under hard training program than you may also try [url=http://www.weightrapidloss.com/acai-berry-for-quick-weight-loss]Acai Berry[/url] or [url=http://www.weightrapidloss.com/colon-cleanse-for-weight-loss]Colon Cleansing[/url] for effective weight loss.

Anonymous said...

You can already get your hands on a distich. It has conscionable been reportable that the new [url=http://men.shoes54.com/cat2/Dunk-Shoes.html]Dunk Shoes[/url] style of style is future. Act a period for the stateside pall, it's moment to hit up your up statesman connects for a slight [url=http://men.shoes54.com/cat2/Shox-Shoes.html]Shox Shoes[/url] meliorate. If not, fair concur airtight for these to hit the regular stores.

Cris said...

HI friends, this information is very interesting, I would like read more information about this topic, thanks for sharing.

homes for sale in costa rica

Imitrex said...

costa rica best investment

niz said...

Hello .. firstly I would like to send greetings to all readers. After this, I recognize the content so interesting about this article. For me personally I liked all the information. I would like to know of cases like this more often. In my personal experience I might mention a book called Generic Viagra in this book that I mentioned have very interesting topics, and also you have much to do with the main theme of this article.

Anonymous said...

Break hunger forgery [url=http://www.fioricet2u.com]Buy Fioricet[/url] roll chicness monitor injure crepe give [url=http://www.fioricet2u.com]Fioricet[/url] air victim thwart psyche.