Monday, January 30, 2012

Why are the Chinese buying gold?

" The best explanation is that individuals in China are using gold as a substitute for capital flight. .. Not every Chinese citizen is in the position to export cash, so the next best tactic for the nervous is to buy gold, a refuge from plunging property prices and declining stock markets as well as an anticipated depreciation of their currency."
http://www.forbes.com/sites/gordonchang/2012/01/29/why-are-the-chinese-buying-record-quantities-of-gold/

1 comment:

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