According to the Shanghai Gold Exchange, China’s gold imports have jumped 500% in the first 10 months compared to all of 2009.
This is shocking news since China happens to be the largest gold producers in the world. This sharp increase is clearly coming from investors concerned about inflation and the global economy. According to Shen Xiangrong, 70 to 80 percent of the gold imports were turned into mini-gold bars which will be held physcially by Chinese investors.
Whatever your thoughts are about gold, we hope you know that this is just the begining of a major long term gold trend.