Asian Economy to Support Rising Gold Prices
Due to the expanding economy in Asia, gold prices look to be on the rise. In London and New York gold rose to a record high. Speculation has it that the increase demand in Asia for jewellery will support this rise.
China, it appears, is the first of the big nations to rebound from the prevailing economic crisis and global recession. With the current increase demand for jewellery in China and the introduction of a stimulus package,consumption and lending appears to be on the rise.
In the second quarter of this year the economy in China grew by 7.9%. This has lead to speculation that China might â€œovertake India as the world’s largest gold consumer this yearâ€.
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