GOLD COULD HIT $US725 ON CHINA DEMAND
“Gold could hit $US725 on China demand” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Yet another estimation on how high the gold price is predicted to climb to?
“Prices may reach $US725 an ounce by 2010 from the current level of $US437…” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Now, more & more analysts are predicting for gold to climb still higher, but is there anyone we can trust with certainty who also is claiming that gold is set to rise signifacntly in the years ahead?
"It's possible that we'll see a significant increase in demand for gold jewellery [in China]," said Darren Heathcote, head of trading at NM Rothschild & Sons in Sydney.” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Well, I will definitely trust the word of N. M. Rothschild & their predictions concerning the gold market. And another respected professional institution predicting higher gold prices?
"THIS TREND IS LIKELY TO CONTINUE IN THE MEDIUM TERM," said Tim Spencer, analyst with GFMS, a London research company (GFMS is the world's foremost precious metals consultancy, specialising in research into the global gold, silver, platinum & palladium markets.).” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
And why is China the trend setter today & the country to pay greater attention to?
“China's 1.3 billion consumers are already the world's biggest users of steel, cement, copper, tin and iron ore.” "The purchasing power of the Chinese for dollar-denominated commodities has clearly gone up," said George Albino, senior analyst at Orion Securities in Toronto.” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Now read the tonnage figures below & digest the nearly TRIPLE demand increase that is being predicted for just the next 5 years of Chinese gold consumption.
“Chinese retail sales of gold jewellery rose more than 11 per cent to 224 tonnes in 2004, said GFMS. Sales might rise to as much as 600 tonnes within five years, said Merrill Lynch's Graham Birch, leading China to surpass India as the biggest consumer.” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Yet another estimation on how high the gold price is predicted to climb to?
“Prices may reach $US725 an ounce by 2010 from the current level of $US437…” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Now, more & more analysts are predicting for gold to climb still higher, but is there anyone we can trust with certainty who also is claiming that gold is set to rise signifacntly in the years ahead?
"It's possible that we'll see a significant increase in demand for gold jewellery [in China]," said Darren Heathcote, head of trading at NM Rothschild & Sons in Sydney.” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Well, I will definitely trust the word of N. M. Rothschild & their predictions concerning the gold market. And another respected professional institution predicting higher gold prices?
"THIS TREND IS LIKELY TO CONTINUE IN THE MEDIUM TERM," said Tim Spencer, analyst with GFMS, a London research company (GFMS is the world's foremost precious metals consultancy, specialising in research into the global gold, silver, platinum & palladium markets.).” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
And why is China the trend setter today & the country to pay greater attention to?
“China's 1.3 billion consumers are already the world's biggest users of steel, cement, copper, tin and iron ore.” "The purchasing power of the Chinese for dollar-denominated commodities has clearly gone up," said George Albino, senior analyst at Orion Securities in Toronto.” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
Now read the tonnage figures below & digest the nearly TRIPLE demand increase that is being predicted for just the next 5 years of Chinese gold consumption.
“Chinese retail sales of gold jewellery rose more than 11 per cent to 224 tonnes in 2004, said GFMS. Sales might rise to as much as 600 tonnes within five years, said Merrill Lynch's Graham Birch, leading China to surpass India as the biggest consumer.” By Xiao Yu & Matt Chambers, Newsbreak.com, 8-9-2005
posted by SSY | 12:36 AM
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