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Home>Investing in Mining Stocks>As yuan sinks, Goldman sees rising gold demand in China

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As yuan sinks, Goldman sees rising gold demand in China

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Chris Powell

GATA

Published : October 25th, 2016

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FOLLOW : China Chinese Georgia Gold Gold Demand Market Nation Yuan

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Category : Investing in Mining Stocks


	Further weakness in China's currency and investors' concerns over the outlook for the nation's property market may spur gold demand in Asia's top economy, according to Goldman Sachs Group Inc., which made the forecast as the offshore yuan sank to a record. "The potential drivers of increased Chinese physical buying include purchasing gold as a way to hedge for potential currency depreciation in the face of capital controls," analysts including Jeffrey Currie and Max Layton, wrote in a report dated Monday. Bullion consumption in China may also rise "as a way of diversifying away from the property market," they said. ... ... For the remainder of the report: http://www.bloomberg.com/news/articles/2016-1...treats-goldm...

Data and Statistics for these countries : China | Georgia | All

Gold and Silver Prices for these countries : China | Georgia | All

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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