And The Winner Is China Posted by James Randolph on January 22, 2009
And The Winner Is China
January 22, 2009 – Indian gold coins see some positive movement today after some small losses yesterday due to investors reconsidering precious metals as a safe haven against an ever-worsening economy. The biggest talk in the news right now is that China has overtaken India as the world’s largest gold bullion consumer. Chinese demand for bullion is increasing very rapidly and has come up 15% in the last year while Indian demand fell 65% during the beginning of 2008. There’s only one thing that can be said about this, and it’s the fact that Chinese investors have realized the importance of diversifying into precious metals during difficult economic times. It seems almost like as if stocks are fading away amidst the growing financial problems and it’s predicted that soon most investors will be trading gold, silver and rare coins like the Indian gold coins instead of stocks. Only time will tell.
Today we’re seeing the gold spot price trading at around $856.10 per ounce, a $2.90 or .34% increase for the trading day and a $16.10 or 1.92% increase in the last 30 trading days. Indian gold coins have been increasing in demand especially now that more investors are realizing the profit and preservation potential that they offer. With almost all investment spending on shaky ground, it makes sense to own something that is well protected against a variety of economic mayhem. Have a great day and invest well.
Senior Staff Writer – Certified Gold Exchange