China, a nation of 1.3 billion people, is the biggest consumer and producer of gold. The country has also been helping boost silver and gold prices in the world market with its overwhelming demand for gold IRAs.
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The last few years have seen China on a remarkable shopping spree for gold. In fact, the World Gold Council said this year that China will increase its demand for physical gold investment by as much as 50% from the 105.5 tons recorded in 2010.
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The Shanghai Gold Exchange had also reported that gold imports of the country increased by six times in the first 10 months of 2010 as a result of increased demand from Chinese investors.
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Demand for gold in China continues in 2011. The first three months of 2011 has seen the Chinese demand on gold investment doubled, with 91 tons of gold imported as of March 2011. The figure is more than double the 40 tons imported in the first three months of 2010.
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Manufacturers of jewelry in China are contributing to the demand for gold in the country.? It has been reported that the Chinese jewelry market bought about 143 metric tons of gold in the first three months of 2011, which is an increase of 21% compared to the first three months of the previous year.
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Gold Exchange Traded Funds
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The People?s Bank of China had recently shared it is eyeing to sell and purchase more gold due to the domestic appetite for gold investments. Just recently, the first gold exchange traded fund was launched in China, luring record collection early this year. Gold was golden for the Lion Fund Management Corporation as it sold $483 worth of investments for its gold ETF.
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The launch of the ETF is significant because Chinese investors have an additional option in cashing in on the soaring prices of gold and gold-related investments. Prior to the ETF, the only choices were to buy physical silver and gold. Now imagine how much boost in demand gold ETFs will enjoy now that this has been introduced to the Chinese market. With over 1.3 billion potential investors, gold ETFs in China would certainly boost gold prices in the world market.?
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Silver Demand
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Meanwhile, silver in ira demand is also high in the country with interest not only coming from the industrial sector but also from the government?s interest in silver as a protection against inflation.
Chinese have been pushing for higher silver prices because of the country?s great demand. ?China bought an all-time high of 3500 tons of silver in 2010. While silver ETFs in China have yet to be launched, investors are all eager to have their hands on these investment instruments given the demand for silver.
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Outlook
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The future looks good for both the precious metals with China?s appetite for silver and gold for ira investments. With the ETFs in gold and silver allowing anyone from China to buy gold and silver investments, the prices of these precious metals are seen to skyrocket even further. And because silver and gold are considered hedges against inflation, more investors will be interested in buying them given the ongoing fears over debts of the US and the European Union.
Source: http://www.nanothailand.org/investing/china%E2%80%99s-overwhelming-demand-for-silver-and-gold
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