Source: CCTV.com
04-27-2009 09:00
Gold prices in China have been on the rise led largely by 3 straight days of gains in the price of gold futures in New York. And with Chinese authorities confirming a big boost in its reserves of gold, many think this precious metal is now a good option for investment.
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| Gold prices in China have been on the rise led largely by 3 straight days of gains in the price of gold futures in New York. |
The cost of China’s investment gold bullion has increased by around 5 percent, because of the continued rise in international gold prices.
Li Xiaodong, Deputy GM of China Gold Group Marketing Co. said “The price for investment gold bullion is related to the gold price of the Shanghai Gold Exchange. So the price has risen from 201 yuan per gram to 211 yuan.”
Although the price is rising, investors are becoming increasingly enthusiastic about this investment channel, especially after the news that China has increased its gold reserves.
One consumer said “I heard China has increased its gold reserves, so I think there is still space for further price rises. I bought some gold for investment.”
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