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| Sahit Muja: Gold, China |
Gold prices advanced to $1,6664.20 today in global markets as a weaker dollar and European debt concerns boosted the metals appeal as an alternative investment.
Strength in the gold prices is expected to increase as demand from Investors worldwide and increase in consumption in China and India is expected to double in few years .
Concerns that Europe was on the verge of restructuring its debt weighed on the euro and helped drive investment demand into gold and other precious metals.
Shares are expected to grow for gold mining producers and explorers followed the surging gold price higher.
Investors has increase the gold purchasing in China, US, Europe and India to protect the assets from devaluation.
India's and China's annual rate of inflation, based to 6 per cent in 2011 .
Global gold demand in the 2011 was up 10 percent
China has surpassed India as the world’s top gold market this year.
Chinese investors more than doubled their purchases of gold during 2011, compared to 2010.
China’s investment demand increased to 90.0 metric tonnes (40.7 tonnes in the year prior), compared to India’s 85.6 tonnes.
Investments into gold bullion surged 200 percent in China
Sahit Muja
President and CEO
Albanian Minerals
New York
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