CNBC: China to Set a Gold Floor?

LONDON, 17 November 2010 ? Adrian Ash, head of research at world-leading gold invstment service BullionVault, appeared today on top US business channel CNBC.

Calling BullionVault the "world's No.1 gold ownership and trading service online," the channel's Fast Money team ? led by Melissa Lee ? interview Adrian about the latest leaks out of Beijing on China growing its official gold reserves, plus the stellar growth in its private gold consumption, both in jewelry and for investment.

"You've got an awful of household wealth [in China] now denominated in gold," says Adrian, "and Beijing has been actively encouraging that if you look at what's happened to private demand since deregulation a decade ago.

"So if you want to look after your private consumers, you might want to step in and say 'Yeah, we'll put a floor under the gold price'."

You can watch Adrian's interview at CNBC here...

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