China's gold market is now firmly tied to the international gold market
Santa Monica, CA (PRWEB) November 29, 2006
According to a recent statement in the China Daily by Chairman Cheng Fumin of the China Gold Association, China plans to double its efforts to facilitate future trade of gold and encourage foreign investors to invest in the gold mining industry. Gold Central, an online division of Lear Financial, Inc., one of the top gold coin industries in the U.S., has been watching China for years and advises smart investors to invest in gold now before the price increases due to foreign interest.
"China's demand for gold has been on a steady increase in recent years," said Kevin DeMeritt of Lear Financial, Inc. "China's increased demand for gold bullion, gold exploration and rising jewelry sales is driving up the price of gold, and investors must take notice now."
China is currently the world's third largest gold consumer and fourth largest gold producer but suffers from a long-term supply shortage because of limited natural reserves and inadequate production facilities. China plans to invest heavily in up-to-date technology to mine its domestic gold resources.
"China's gold market is now firmly tied to the international gold market," added DeMerritt. "It should not surprise anyone to see China's domestic gold prices increase in line with the rising international price of gold. If anyone is considering investing in gold, now is the perfect time because prices are predicted to increase by over 18 percent in the next two years."
Gold analysts with the Industrial and Commercial Bank of China claim that China's domestic gold prices will further rise following a flood of new capital into the Shanghai Gold Exchange (SGE). To protect against the gloomy backdrop of stocks and securities on the Chinese mainland and rocketing gold prices worldwide the gold trade is expected to become an important investment option for the Chinese.
For those thinking about investing in gold and don't know where to start, GoldCentral.com has been helping Web investors capitalize on the gold investment market with relevant and current information on purchasing, selling, and trading gold online. Gold Central has a real-time streaming news service that updates gold, silver and platinum palladium prices 24 hours a day thus providing all the important information needed to become an educated gold investor.
To learn more about investing in gold coins and gold bullion through Gold Central call 800-965-0580 or visit http://www.goldcentral.com.
About Gold Central
Gold Central.com, a division of the internationally renowned precious metals asset firm Lear Financial, Inc., is dedicated to providing Web investors with all the pertinent information and tools needed to securely purchase, sell and trade gold online. Gold Central.com offers a diverse suite of intelligent investment resources - including real-time pricing, regular email alerts, newsletters, and a live staff available to answer real-world questions - that not only enable investors to stay current on the latest developments in the gold market, but also give investors the flexibility to move gold as expeditiously as conventional paper investments.