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 “overtake India as the world’s largest gold consumer this year”.

Related posts:

1. Demand for Gold is Soaring

Link to this article: : http://www.goldmadesimplenews.com/gold/asian-economy-to-support-rising-gold-prices-458/

Posted by GoldMadeSimple on Jul 29 2009. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry