The Further Development Of China's Gold Investment Market

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Hou Huimin, vice chairman of China Gold Association, a gold in last Saturday the report was that policies should be guided to gold futures, spot market, the development of China's gold investment market. He also predicted that gold prices will be high long run.

China is the world's second largest gold producing country, China, in 2007 more than 270 tons of gold output in China in 2008 over South Africa's gold production is expected to become the world's largest gold producing country; the same time, China is an important gold-consuming country, last year China consumption of more than 350 tons of gold, the potential future demand will exceed 500 tons.

Hou Huimin said the slow development of China's gold market, gold consumption is still in the stage of the traditional kind of gold consumption, investment demand is a relatively small proportion of this is leading to China in the world gold market, an important reason for lack of pricing power. China's gold market should gradually make three changes: from commodity-based transaction-based changes to the financial transactions, dominated by the spot transaction-based ...
... changes to the Exchange, from the domestic market to international market changes.

At present, China's gold investment market development has lagged behind the international gold market, gold market in China will be the future of gold derivatives to the main direction of the international gold market.

Hou Huimin said that the Chinese gold market is to achieve the above three changes direction, gold futures have been listed 4 months, the Shanghai Gold Exchange has also introduced a foreign member of the gold investment in the country is growing. However, the development of China's gold market has not kept up much faster pace of China's rapid economic growth, nor keep up with the rapid growth of China's foreign exchange reserves, the domestic context of the pace of growth in gold investment demand. Therefore, policies should be further guidance, through commercial banks and futures exchanges, two major channels to further develop the gold market, It should also be in the gold market development models and products to further explore and .

He also predicted the price of gold briefly the development trend, he concluded that, subject to gold jewelry demand and investment demand for gold for further growth and long-term change trend of the dollar and other factors, the international gold market price of a long run at a high level.

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