From the category archives:
Vietnam is suffering from a 25%-plus inflation rates and in an effort to save its
plunging currency, suspended the
importation of gold.
Vietnam investors are so intensely buying gold as a
hedge against inflation that gold importation has become one of the largest trade deficit contributors.
The government can try to stop investors from buying gold, but it won’t work. [...]
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Wang Yu, director of the gold
and foreign exchange
market of the People’s Bank of China, said that
gold prices will rise because of continued dollar depreciation,
rising demand, and global political uncertainty.
“My personal conclusion is that international gold prices will remain volatile in the short term, while from a
long-term perspective there is a possibility for — and room [...]
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Platinum has soared 50% this year to hit a record high of $2,290 an ounce in March.
The jewelry industry has already noticed a shift from platinum wedding rings to white
gold instead.
Brides can change metals but they still need a diamond. Have you looked at Harry Winston (NYSE:HWD) lately?
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The Shanghai stock
market jumped 2.7% yesterday with 717 out of 914 stocks closing higher. The Shenzhen Index jumped 3.5%.
Construction companies Sichuan Road and Bridge Group Co Ltd and Chongqing Road and Bridge Company surged to the daily
allowable limits. So did cement producer Sichuan Golden Summit.
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When you think of gold mining, most people think of
South Africa. But did you know that China passed South Africa and is now the largest producer of gold in the world?
There are five publicly traded Chinese gold companies,
none of which trade on any U.S. stock exchanges:
Zinjin
Jiangxi
Yunan Copper (don’t let the name fool you)
Zhongin
Shandong Gold
Jiangxi, Yunan, [...]
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