China Seeks Gold Medal in Gold Trading
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China is the largest producer of Gold and the middle class to reach 600 million Chinese people have been interested in precious metals for the purpose of consumption in the form of jewelry and a new wave of investors looking eperti fruits Gold as an investment product with a safe haven when the stock and bond markets perform poorly. The managing director of World Gold Council's Marcus Grubb said "China's gold demand is on track to expand by seven percent to 870 tonnes this year. On the road today, China will likely surpass India as the single largest market for gold in 2012".
Driven by China's ambition to play a more significant role in global commodity prices, one of China's biggest bank ICBC is exploring membership of international major exchanges like COMEX and intends to join the 11 market makers from the London Bullion Market Association (LBMA). It will develop the bank's position as an on-and off-shore giants in commodity trading for institutional and retail investors of China.
Domestic demand and investor appetite for fast-moving gold market has been opened and it has a positive effect on trading volume. According to the U.S. Futures Industry Association, China ranks fourth in terms of volume of gold futures contracts traded in 2011.
Total trade in gold futures to China reached 722.18 million lots in 2011, a 113 percent jump from last year, while turnover jumped nearly 180 percent to 2.55 trillion yuan (401.9 billion U.S. dollars), according to data from the Shanghai Futures Exchange.
Traders execute on the Shanghai Gold Exchange has a variety of contracts, while SGE offers a total of 12 spot and futures contracts for a variety of precious metals, including gold, silver and platinum.
If current trends continue China will continue to dominate the global capital markets as it has done in the Olympics and the World Economy. The goal of making Shanghai a financial center in both directions and developments in the commodity sector and the currency that makes the 'price' and China will not only be a 'price taker'
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. CONNECTED
Visit Us www.deryworldscorp.web.id
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