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An article from www.eastmoney.com and translate into English

2015 gap of 550 tons gold complex or aggravate the Chinese gold market supply and demand imbalance

www.eastmoney.com 2013 02 11 08:15 any peak

Wearing new clothes, wearing a new cap "is the traditional Chinese Spring Festival. This includes wearing new jewelry, especially gold jewelry. The annual Spring Festival, many cities will set off a "Share the Gold surges.

China Gold Association statistics show that the first 10 months of 2012 , the national focus on gold enterprises totaled sales of 127.64 tons, an increase of 7.24 tons over the same period last year. Shandong trick of gold and silver floor, the Huachang jewelry and other leading enterprises sales substantially increase, respectively, an increase of 68.11%, 47.18%.


Although no sales figures for the whole year, but the end is often gold sales season, so the sale of businesses, should be a "good year" last year. And hot sales momentum continued into this year.

Precious metals investment institutions Dacheng WorldCom president Lee said, since New Year's Day, the bullion investment gold product sales year-on-year increase of about 15%; jewelry and other gold products sales year-on-year increase of approximately 20%.

Revenue growth to provide strong economic support for China's gold consumption. In 2012, China's urban residents per capita disposable income of 24,565 yuan, after deducting price factors, the actual growth of 9.6%, or 1.2 percentage points higher than the last year.

"When people's income reaches a certain level, they need a way to show their success. Both self-gratification, and also want to be recognized by others, gold is obviously a good carrier in China, gold often represents a precious, majesty, eternal, good luck. "Zhen Hao wealth of precious metals research director of the Center for sinus Qin Li said.

Another driver to drive gold consumption growth is investment. In recent years, the gold to hedge against inflation and financial risks is increasingly apparent, the folk interest in holding physical gold has continued to improve.

"Inflationary pressures, the downturn in the stock market, property market regulation and other factors so that investors' willingness to invest steering funds began to switch to gold as increasing the value of new and hedge channels." Lee said.

According to Li Da, gold buying groups a few years ago after 60, 70 after majority, now 80, also added. Different ages, choose a different variety of consumer products. 60, 70 inclined to invest in gold bullion, and 80 more inclined to buy jewelry.

Sinus Qin Li also noted that more and more young people join groups to buy gold. Some young people are also starting to invest, but the amount is not too high, mostly less than 100 grams of gold bullion.

Income growth, investment demand, the Chinese gold investment, consumption showed a strong growth momentum. The figures released by the Ministry of Industry: 2011, Chinese jewelry, gold bars, gold coins, industrial and other gold reached 761 tons, ranking second in the world after India.

With gold hedging, and realized, increasing the value of property enhancement, the gold complex "of the Chinese people is becoming increasingly strong. MIIT expects China's gold consumption in 2015 will exceed 1000 tons, but can only reach about 450 tons of gold production, further expand the supply gap.

To reverse this situation, China intends to increase gold geological resource exploration investment, the use of advanced exploration techniques, deepening deep and surrounding exploration of potential mines in eastern and central, strengthening resources exploration in the western region and concentrate on proven a number of large large deposits .

China will also promote corporate mergers and acquisitions of gold, and to reduce the number of enterprises, improve industrial concentration. To 2015, the the Ten Gold Group Company production will try to reach 260 tons, an increase of 100 tons more than in 2010, gold production of large and medium-sized gold enterprises accounted for more than 70% of the country.