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China On Track To Replace India as Largest Gold Consumer

China On Track To Replace India as Largest Gold Consumer# Stock

c*i2010-12-03 08:12

1 楼

(1) Leslie Hook and Robert Cookson, China Sees Gold Import Surge As
Investors Search for Safe Haven. Financial Times (FT), Dec. 3, 2010.
Paragraphs 3 & 4:
"The surge of the import--more than 209 tonnes of gold during the first 10
months of the year, a fivefold increase from an estimate of 45 tonnes last
year – was revealed on Thursday. In the past, China has kept the volume
secret.
“'Investment is really driving demand for gold,' said Cai Minggang, at the
Beijing Precious Metals Exchange. 'People don’t have any better investment
options. Look at the stock market, or the property market – you could make
huge losses there.'
My comment: There is no need to read the rest.
(2) Robert Cookson and Leslie Hook, China gold boom sparks wave of
counterfeits. FT, Dec. 3, 2010.
http://www.ft.com/cms/s/0/67dc062c-fe45-11df-abac-00144feab49a.html
("In one case, executives discovered a pure gold coating that masked a
complex alloy with similar properties to gold. The fake metal included a
significant amount of bullion, about 51 per cent of the total, alloyed with
seven other metals: osmium, iridium, ruthenium, copper, nickel, iron, and
rhodium")
My comment:
(a) The Chinese Gold & Silver Exchange Society 金銀業貿易場
http://www.cgse.com.hk/
(b) One may need to register with FT to read the report.

w*s2010-12-03 08:12

2 楼

可惜的是很多产业现在开始往印度跑了
中国工人太难找了。

the
investment
make

【在 c**i 的大作中提到】

: (1) Leslie Hook and Robert Cookson, China Sees Gold Import Surge As
: Investors Search for Safe Haven. Financial Times (FT), Dec. 3, 2010.
: Paragraphs 3 & 4:
: "The surge of the import--more than 209 tonnes of gold during the first 10
: months of the year, a fivefold increase from an estimate of 45 tonnes last
: year – was revealed on Thursday. In the past, China has kept the volume
: secret.
: “'Investment is really driving demand for gold,' said Cai Minggang, at the
: Beijing Precious Metals Exchange. 'People don’t have any better investment
: options. Look at the stock market, or the property market – you could make

c*i2010-12-03 08:12

3 楼

I posted here, because you guys may buy gold instead of stocks. I di dnot
expect a discussion about industrial trends.
Now that you are talking about it, however, I will talk briefly. India
boasts of "demographic dividend" a term that floats around frequently this
year. Both India and many in the West think India will overtake China in GDP
growth rate, starting somewhere around 2013 or 2015 (depending on who say
it)--mainly SIMPLY because India will have people of working age more than
India after that years. Economist magazine a month ago had a special issue
comparing India and China. I do not know if it is true, because I do not
like predictions, which can go wrong easily.

【在 w******s 的大作中提到】

: 可惜的是很多产业现在开始往印度跑了
: 中国工人太难找了。
:
: the
: investment
: make

b*p2010-12-03 08:12

4 楼

Hook and Cook-son 这两个姓取得真是有水平啊。不要脸的金融骗子印度金子卖不动，
来煽风点火骗中国人买了哈。印度人还真是拜金，就喜欢囤金子做首饰嫁妆，标榜自己
身份。在美国也不例外。
http://www.chron.com/disp/story.mpl/life/religion/new/7280301.html
Indians not celebrating price of gold during Diwali
Jewelers say they're selling fewer items for annual festival
By KATE SHELLNUTT
HOUSTON CHRONICLE
Nov. 5, 2010, 5:44AM
Record-high gold prices have hurt business for local Indian jewelers during
Diwali, the popular Hindu festival of lights and the start of a new fiscal
year.
For the holiday, Hindus make special offerings to Lakshmi, the goddess of
prosperity and wealth. The five-day festival began Wednesday with Dhanteras,
when devotees may perform rituals at home over newly purchased gold jewelry
or coins.
"It's a special day," said Sushma Pallod, a local Hindu leader. "It's an
auspicious time to buy gold."
Jewelry store owners in the Harwin-Hillcroft shopping area anxiously watched
gold prices hit one record high after another. On Thursday, gold prices hit
a new high of $1,383.10 per ounce following the announcement of a new
Federal Reserve stimulus.
The $600 billion Fed program further raised concerns over inflation and a
weakening dollar, turning investors to commodities like gold.
For consumers, this ongoing gold rally has meant prices during the past two
years have nearly doubled for their intricately designed, handmade necklaces
, earrings, rings and cufflinks.
Indian jewelry already costs more than Western styles since it's made from
22-karat gold, which has higher gold content than 14-karat or 18-karat
pieces.
Shoppers are spending $50 to $15,000 on jewelry for the holiday, shopkeepers
said. This year, jewelers are raising their prices, but buyers aren't
raising their budgets.
"If they say they are only going to spend $1,000, they are only going to
spend $1,000," said Gobind Kamnani, owner of India Jewelers.
Jewelers take notice
At nearby Karat 22, they've already seen dramatic drops in sales.
"Even though the same number of people come into the store, the volume is
less than half," said Aku Patel, who co-owns the store with his wife, Meena.
These local jewelers display a range of styles, from larger, traditional
pieces to more delicate, diamond-filled contemporary designs. The showrooms
smell a little like incense and include statues of Hindu deities, including
Lakshmi, the multi-armed goddess often depicted distributing golden coins,
and Ganesha, the elephant-headed god called upon to bring success and luck.
During Diwali, devotees will perform — at home and in temples — special
pujas, or rituals, to Lakshmi to secure her blessing. She also represents
light, and the holiday overall honors inner light over darkness and evil.
"It's a time of festivities, it's a time of puja and thanksgiving," said
Viral Desai, of the BAPS Shri Swaminarayan Mandir, a Hindu temple in
Stafford. "It's basically thanking God for all the wealth you have been
given and making sure it's clean, that it has been acquired ethically."
Some Hindu business owners will bring their financial records - books, CDs
and flash drives - to the temple tonight to be blessed for the new year, as
a part of larger communitywide celebrations, Desai said.
'Small token' this year
Individual families will perform pujas at home according to their own
traditions. One popular practice is to place gold coins and jewelry before
Lakshmi's altar.
"This year we will buy a small token," Vijay Pallod assured his wife, Sushma.
They haven't purchased gold for Diwali in a few years, since their kids went
off to college.
"That's where all the gold is now," she said.
The tradition of buying gold varies by family and budget, but jewelry is a
typical Diwali gift for wives, in-laws and daughters. India is the world's
largest consumer of gold, and last year, 56 metric tons of the metal were
purchased during the week of Diwali alone.
Price mirrors inflation
In the U.S., first- and second-generation Indian-Americans continue to value
gold jewelry.
From a financial perspective, gold's value is recognized worldwide, so it
makes sense that this commodity has maintained its worth over time,
according to Rick Kaplan, principal and chief investment officer of Legacy
Asset Management in Houston.
It's an especially popular investment for people worried about the state of
the U.S. economy and the dollar.
"As inflation starts picking up, gold should continue to go higher," Kaplan
said. "I am not sure how much inflation is going to go up, but as long as it
does, gold is going to get higher."
r*************[email protected]
GOLD, RISING
When the price of gold is up, so is the price of gold jewelry - at Diwali or
any other time. Here's what an ounce of gold cost on Diwali for the past
several years:
2010: $1,337.60
2009: $1053.50
2008: $712.50
2007: $737
2006: $597.25
2005: $473.20
Source: World Gold Council

the
investment
make

【在 c**i 的大作中提到】

N*n2010-12-03 08:12

5 楼

Gold is money, damn it!!!
Fiat currency is bullshit. The only way to make them a legitimate tender
is to back them up with gold, which is why China has not only shut down
gold export but also been accumulating gold for several years in a row.
Go learn some monetary system 101 please. Heck, it's not even 101. It's
monetary system for dummies.

【在 b*p 的大作中提到】

: Hook and Cook-son 这两个姓取得真是有水平啊。不要脸的金融骗子印度金子卖不动，
: 来煽风点火骗中国人买了哈。印度人还真是拜金，就喜欢囤金子做首饰嫁妆，标榜自己
: 身份。在美国也不例外。
: http://www.chron.com/disp/story.mpl/life/religion/new/7280301.html
: Indians not celebrating price of gold during Diwali
: Jewelers say they're selling fewer items for annual festival
: By KATE SHELLNUTT
: HOUSTON CHRONICLE
: Nov. 5, 2010, 5:44AM
: Record-high gold prices have hurt business for local Indian jewelers during

b*p2010-12-03 08:12

6 楼

I feel sorry for you...
金本位制度在人类历史上一共多少年，金子的工业价值在哪里,金子的成本和现在的价
格合理吗？当年金本位制度的推动谁倒霉，不就是中国。从2005年到2010年初，小麦和
棉花价格涨了最多50%。金融骗子愁啊，可好俄罗斯大火，亚洲水灾，2010夏天来总算
找到借口长了一倍多，但还是和金子的涨幅差不少。
虽然我看好银子，但是我是看在它未来的应用上。炒金子有意思吗？活着就为了两个钱
吗？
I know, you studied hard and worship the greater fool theory.

【在 N********n 的大作中提到】

:
: Gold is money, damn it!!!
: Fiat currency is bullshit. The only way to make them a legitimate tender
: is to back them up with gold, which is why China has not only shut down
: gold export but also been accumulating gold for several years in a row.
: Go learn some monetary system 101 please. Heck, it's not even 101. It's
: monetary system for dummies.

N*n2010-12-03 08:12

7 楼

Gold meets the necessary elements of money: Durable, divisibility, value
in itself, consistence and unable to be printed out of thin air.
Gold has been money for thousands years while every paper currency comes,
gets abused by politicians and eventually collapses, and the fate of US$
is no different. Capisce?

【在 b*p 的大作中提到】

: I feel sorry for you...
: 金本位制度在人类历史上一共多少年，金子的工业价值在哪里,金子的成本和现在的价
: 格合理吗？当年金本位制度的推动谁倒霉，不就是中国。从2005年到2010年初，小麦和
: 棉花价格涨了最多50%。金融骗子愁啊，可好俄罗斯大火，亚洲水灾，2010夏天来总算
: 找到借口长了一倍多，但还是和金子的涨幅差不少。
: 虽然我看好银子，但是我是看在它未来的应用上。炒金子有意思吗？活着就为了两个钱
: 吗？
: I know, you studied hard and worship the greater fool theory.

s*z2010-12-03 08:12

8 楼

看来金子要跌了，中国人干啥都赔钱的。

Import Surge As
Dec. 3, 2010.
during the first 10
estimate of 45 tonnes last
has kept the volume
Cai Minggang, at the
any better investment
market – you could make

【在 c**i 的大作中提到】

x*o2010-12-03 08:12

9 楼

银子有什么作用？大家具体说说？做首饰估计都没有人买，做假币的原材料？

a*i2010-12-03 08:12

10 楼

目前还是挺有用的，银子的导电性能最好了。

【在 x*******o 的大作中提到】

: 银子有什么作用？大家具体说说？做首饰估计都没有人买，做假币的原材料？

a*h2010-12-03 08:12

11 楼

和这个bip讲就是浪费时间，
你看他说“活着就为了两个钱吗？“
这是在古板讲的人话吗？

【在 N********n 的大作中提到】

:
: Gold meets the necessary elements of money: Durable, divisibility, value
: in itself, consistence and unable to be printed out of thin air.
: Gold has been money for thousands years while every paper currency comes,
: gets abused by politicians and eventually collapses, and the fate of US$
: is no different. Capisce?

a*h2010-12-03 08:12

12 楼

right now it's anything that China starts to import will go up a lot, I
think it's just a start.
gold and silver will eventually go to levels that will stun you, everyone
will start chasing the performance.

【在 s********z 的大作中提到】

: 看来金子要跌了，中国人干啥都赔钱的。
:
: Import Surge As
: Dec. 3, 2010.
: during the first 10
: estimate of 45 tonnes last
: has kept the volume
: Cai Minggang, at the
: any better investment
: market – you could make

c*i2010-12-03 08:12

13 楼

I do not want to get involved in this fight. But you have a point. From Paul
Krugman to Financial Times, all have recently said gold standard can not
possibly return, if not because no nation has enough gold to back it (
standard) up--trade volumes have dramatically increased since dissolution of
Brenton Woods in early 1970s.
There is CERTAIN speculation that gold price is in a bubble NOW. But who
knows, economists are never good at prediction.

【在 b*p 的大作中提到】

N*n2010-12-03 08:12

14 楼

I find it incredibly stupid that China is still exporting silver at all.
We should have cut it off long time ago like what we are doing with gold.
Silver is too strategically important to exchange for some junk Dollars.

【在 a********h 的大作中提到】

: right now it's anything that China starts to import will go up a lot, I
: think it's just a start.
: gold and silver will eventually go to levels that will stun you, everyone
: will start chasing the performance.

b*p2010-12-03 08:12

15 楼

看看银本位金本位的结果吧，欧洲被中国不说掏空也掏了好多，搞到最后靠打仗抢回来
。二战后美国被德国日本也是迅速掏空。现在这样的全球贸易环境下，如果还是金本位
制度，中国现在会这么软吗？
金子是挖出来要么屯着要么做首饰镶牙，银子用到工业中去，哪个回收成本底很明显吧
。哪国政府要真不行了，金子全部充公不错吧。
金融骗子就是靠大众思维惯性洗脑赚钱。

Paul
of

【在 c**i 的大作中提到】

: I do not want to get involved in this fight. But you have a point. From Paul
: Krugman to Financial Times, all have recently said gold standard can not
: possibly return, if not because no nation has enough gold to back it (
: standard) up--trade volumes have dramatically increased since dissolution of
: Brenton Woods in early 1970s.
: There is CERTAIN speculation that gold price is in a bubble NOW. But who
: knows, economists are never good at prediction.