Morgan Stanley to Goldman Cut Gold Forecasts on Fed Outlook - 12160 Social Network2024-03-28T18:16:56Zhttps://12160.info/forum/topics/2649739:Topic:1240208?groupUrl=gold_silver_precious_metals&commentId=2649739%3AComment%3A1240799&x=1&feed=yes&xn_auth=noChina importing 2000 tons of…tag:12160.info,2013-06-27:2649739:Comment:12407992013-06-27T02:06:44.148Zmysteryhttps://12160.info/profile/mystery
<p><b>China importing 2000 tons of Gold by 2016 ‘not inconceivable</b></p>
<p><i>China may be importing 2000 tons of gold by the time it is 2016 which would roughly be equal to 80% of the total global gold mine supply, said Standard Chartered in a report cited by Bloomberg News, noting that such a feat is not something ‘inconceivable’.</i></p>
<p><i>“Although it is the world’s largest producer of gold, 40 percent of its production uses imported gold in concentrates,” Standard Chartered…</i></p>
<p><b>China importing 2000 tons of Gold by 2016 ‘not inconceivable</b></p>
<p><i>China may be importing 2000 tons of gold by the time it is 2016 which would roughly be equal to 80% of the total global gold mine supply, said Standard Chartered in a report cited by Bloomberg News, noting that such a feat is not something ‘inconceivable’.</i></p>
<p><i>“Although it is the world’s largest producer of gold, 40 percent of its production uses imported gold in concentrates,” Standard Chartered noted.</i></p>
<p><i>Meanwhile gold output by China may jump 10% to 440 tons this year, China’s mining association said last week.</i></p>
<p><i>This development is in sharp contrast to India: the nation mined miniscule amounts of gold in 2013 YTD and has,unlike China placed curbs on gold imports. China has approved of a set of domestic ETPs in gold this month even as India has raised import duties on gold to 8%.</i></p>
<p><i>This may eventually lead China to surpass India in bullion consumption, China Gold Association said last week.</i></p>
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