ZLATO – dopyt z Číny môže ovplyvniť budúcu cenu

Čínska verejnosť by investovala do zlata 10-30% úspor. Každodenne sa v krajine otvára 90 tis. bankových účtov, ktorých vytvorenie je potrebné ako podmienka pre nákup zlata.

The slow liberalization of the gold market is a fact of life albeit slow and not likely to see huge tonnages [like 3,000 tonnes] flow into the country quickly. But in this gold market it doesn’t take huge tonnages to move the gold price.


We hear from China that 90,000 bank accounts are being opened every day. They need a bank account to qualify to buy gold [here is the control from the government and bankers over the rising gold market]. The Chinese public has indicated before that it would be happy to invest between 10 and 30% of their savings in gold, which they must now do through their bank and consequently the Central Bank. We are not even going to attempt to put a figure on what will go into gold in China, but we have to highlight one fairly dramatic likelihood:


The People’s Bank of China [the Central Bank] is liberalizing to facilitate a professional gold market because local supply is being overtaken by demand. Even growing supply is not going to contain that controlled demand so gold will have to be imported in greater and greater quantities.


The demand to date from China has been coped with by local supply, so the global market has not seen that demand. The addition of Chinese production to the total as well as its demand is primarily academic and has not affected the gold price to date. However increasing Chinese demand for gold will draw off from external supplies, so will affect the global gold price.


In effect then demand over around 240 tonnes in China has to be satisfied by the market. So if the demand doubles [and for a country that size in the process of enriching itself, this would not stretch credibility whatsoever] the next 240 tonnes will likely come from London. This will draw off from a market taking the price up because demand is growing there.


Now we can get enthusiastic about gold demand from China even over relatively small quantities. So we report that in the South of China, in Guangzhou, retail sales of gold coins and gold products had reached 7.82 tonnes since February. That would equate to 94 tonnes per annum. But what about the rest of the country? In Beijing [northerly part of the country] a favorite piece of gold known as “lucky balls” is proving popular. These are one-gram balls, worn around the neck or wrist and are selling in their thousands.


Source: GoldS

02.04.2007

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan