Explore Monex
Precious Metals & Values
March 23, 2010

What will ASIA use to replace devaluing currencies?

Price Value

''Gold prices, which have taken a breather in the last two days, could get help in coming months from Chinese demand for bullion, says one analyst.  Bank of America/Merrill Lynch expects China 'to provide continued support to gold prices going forward,' and maintained a medium-term gold price target of $1,500 an ounce for gold. China’s demand for gold has flourished thanks to a slew of regulatory changes, analyst Michael Widmer wrote in a recent report.

China liberalized jewelry market and also lifted restrictions on 'gold hoarding,' unleashing 'significant pent-up investment demand,' he added.  China is now the biggest gold producer in the world as authorities have tackled supply issues and gold production has expanded fast.  Government itself has also been a steady gold buyer, raising its gold holdings to 1,054 tons in recent years.''

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

See What Investors are Saying About Monex

Thank You!
Want your kit sooner?
Faster delivery is available by phone.
Get Your Free Report

A Better Future
with Precious Metals

  • All form fields are required

  • Privacy Policy
  • This field is for validation purposes and should be left unchanged.
Download Your Report