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China's Private Gold Demand Nears 1% of GDP at Record Prices

From bullionvault.com

China's gold in demand in the first quarter rose to the highest by weight in 5 years according to data from the Shanghai Gold Exchange, and it hit a near-decade high in value terms as a proportion of the No.1 gold buying nation's gross domestic product. China reported solid GDP growth last week, with the world's 2nd largest economy expanding by 5.3% in January-to-March from the same period last year on figures from NBS, Beijing's official data agency. But with China's property market continuing to fall, its stock market hitting 5-year lows, and cash interest rates stuck at historic lows, Chinese households and ... (full story)

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  • Category: Fundamental Analysis