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“Wall Street Journal” create new words: “dama”
In the international price of gold since this spring abrupt upheaval in China Aunt mad rush to buy gold, enthusiasm high, large handwriting order “small partner and I were stunned.” China Gold Association, the World Gold Council recently released the second quarter in succession gold consumption data show that the price of gold fell greatly stimulated the demand for gold, in which China’s purchasing power can not be underestimated; “Wall Street Journal” and even specially created “dama” term to Concerned about the Chinese aunt on the gold market.
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Foreign media professionals create “dama” word
812 days according to the China Gold Association data released this second quarter, the Chinese domestic gold consumption reached 385.5 tons, a record high. Some media analysts pointed out that this data has doubled compared with a year ago.
“Gold prices fell sharply in the second quarter, I believe many people are on the ‘Chinese Mother’ mad rush to buy the grand memories.” Insiders pointed out that Chinese investors and consumers are very sensitive to the price of gold down, grab today’s opportunity to purchase a large number of gold jewelry. International price of gold fell during this 4-6, many women would buy gold in the main, “Wall Street Journal” and even specially created “dama” that come with the pinyin word, to report on the “Chinese Mother” buy gold concern .
“Aunt who is definitely the protagonist gold buying surge, they have not seen for a long time the price of gold is so low.” Industry analysts believe that China’s domestic “buy gold boom” directly affect the international price of gold: If no Chinese domestic needs, the current international price of gold will be lower. In the next stage, China’s domestic demand coupled with other incentives, may drive the gold price rally.
India Buyer promote global gold market
By the Chinese and Indian markets, driven by strong second-quarter global consumer demand for gold soared 53%.
World Gold Council released yesterday 20134-6 second quarter, “Gold Demand Trends report” shows that the recent decline in the price of gold has greatly stimulated the demand for gold. Especially in the current world’s largest gold consumer market in China and India, the consumer demand for gold compared to the same period were significantly improved.
Report said China’s consumer market demand continues to rise substantially in the second quarter totaled 276 tons, an increase of 87%. Investors expect the price of gold will rise in the future, and thus a lower price buy in advance. Second quarter gold demand was 153 tons, an increase of 54%. Gold bullion and gold coins investment reached 123 tons, an increase of 157%.
World Gold Council Far East Managing Director Albert Cheng said: “The Chinese market demand for gold bars and coins at historically high levels, while demand for gold rose more than 50% of gold demand is so strong unusual , as to the second quarter, after the Spring Festival season is the traditional off-season. Typically, Chinese investors buy gold when the price rises, and in the current gold price down when there is so strong demand, indicating that Chinese consumers for gold remain with plenty of long-term confidence in the performance of other investment products bleak further consolidated their this view. “
International price of gold remains volatile short-term
International spot gold $ 1,334.7 per ounce this week, gold prices rose 4% last week, it is the highest since a record three weeks. Subsequently, “the 4th rising” posture ends.
News of the “trouble” can lead to the recent changes in the international price of gold. Strong economic data in the United States, under pressure from the impact of $ 1,350 this week, gold once again failed in the short term will remain range bound. The day before the European market intraday, data released by the U.S. initial eye-catching performance, while seven CPI data released today two parts create the biggest rise since. After the release of the gold short abruptly, once exceeded $ 1,320 minimum down/oz.
Firmest gold bull Paulson also said, “could not carry”, and finally to the SPDR Gold Trust holdings reduced by 53%, while the other giant Soros short-selling its gold holdings.
Chinese buyers are waiting for the price of gold, “the next one down,” a lot of people’s mentality can be summarized in one sentence: “If gold and then lower, I’ll be shot.”
