Chinese Gold Imports Rise 500% -ZH

http://www.zerohedge.com/article/chinese-gold-imports-surge-500-through-october

China’s gold imports jumped almost fivefold in the first 10 months from the entire amount shipped in last year as concern about rising inflation increased its appeal as a store of value, said the Shanghai Gold Exchange.

Imports gained to 209 metric tons compared with 45 tons for all of 2009, Shen Xiangrong, chairman of the bourse, told a conference in Shanghai today. China, the world’s largest producer and second-biggest user, doesn’t regularly publish gold-trade figures and rarely comments on its reserves.

I didn’t believe the figures when I heard them until I saw the article on Bloomberg. How’s that for a fundamental analysis?

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About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

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