Gold News

CGA: Chinese consumers Investing in Gold

Increasing numbers of Chinese citizens are Investing in Gold, it has been revealed.

That is according to the China Gold Association (CGA), which states that the Chinese people are Buying Gold as a result of rises in disposable income, according to China Daily.

Zhang Bingnan, general secretary of CGA, told the news provider: "With household incomes increasing, Chinese consumers are buying more jewelry and investing in gold assets."

Increased demand will come as good news to other gold investors looking for the Bull Run to continue the upward trend it held until the end of 2009.

Meanwhile, in India it has been suggested that the number of people Buying Gold is relative to the precious metal's potential at the time of purchase, contrasting to the general rise in China, according to Business Standard.

An unnamed trader told the news provider: "Price-sensitive consumers always plan their investments in the yellow metal when it looks attractive for them.

"Also, Indian consumers check the potential before passing purchase orders and hence, price variation is directly proportional to gold’s retail buying in local market."

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