Bromby says:...China boosts goldTHE China Securities Regulatory...

Bromby says:

...

China boosts gold

THE China Securities Regulatory Commission has issued provisional guidelines for gold exchange-traded funds to operate on the Shanghai Gold Exchange. We don't know when these ETFs will launch or to what degree they will hold physical metal.

Chinese investors tend to prefer the physical metal as their way of investing in gold, so it will be interesting to watch how they take to ETFs -- and how much gold the ETFs will buy and store. Good news for gold demand (and price).

http://www.theaustralian.com.au/business/opinion/oil-supply-should-send-price-south/story-fnciihm9-1226565445381

Comment:
OTOH, India has been increasing taxes on gold lately, without much effect, though ...