Historical Gold Price Adjusted For Inflation
Himfr.com Reports Chinese gold industry began to highlight the benefits
In recent years, international gold prices higher year per year from 2001 to U.S. $ 260 / Oz and gradually increased to current U.S. $ 867 Per ounce, which on March 14 reached U.S. $ 1,032 once highest per ounce, despite the apparent decline in the past, but not to change the original channel bottom.
As the international price of gold continues excess, the domestic investment boom began to unleash a gold. At the same time, the scale of China chain gold industry is gradually being larger and strong. It is expected that China's gold production in 2008 will exceed 300 tons, with a single blow beyond South Africa became the world's largest producer of gold, while China's gold consumption by leaps and bounds, is also outside the United States, exceeded only by the second largest gold market in India consumers of jewelry. But the sell very well behind the gold investment market in China is still in its infancy, the lack of investment in gold has become China's gateway to world powers' short board. "
– Gold production and sales almost equal to the highest in the world
gold resources in China have been writing a new chapter of history. After the 2006 Yunnan, Guizhou and Guangxi, Shaanxi, Gansu and Sichuan and other areas of proven reserves over 650 tons of gold, after 2007 it has been discovered so far, five large gold deposits: Gangdise xiongcun copper and gold mine, Dachang gold mine in Qinghai Gansu Provincial Gannan areas and Yangshan gold mine in Laizhou City, Shandong Province, jisho gold, gold mine in Hainan keep Lun. Among them, Yangshan gold mine in the province Gansu amounted to 308 tons of gold resources, China has not adapted more than 200 tonnes of gold deposits super-large in the history of independent, but also for the history of China's gold adds a brilliant stroke.
At present, China mainly rock gold mines of gold associated primarily Gold is also a higher proportion of the total on deposit with a small majority, while large, very large deposits of less; addition, as conditions more complex operation are available for open pit mining of mineral deposits are few. In addition, the proportion of refractory resources gold are also larger. According to the institutional analysis predicts that the amount of gold resources in China's current 1.5 to 2 million tons, 4634 tons to maintain the gold reserves, of which 2786 tons of gold from rock, alluvial gold, 593 tons, 1255 tons of gold associated proved reserves ranked seventh in the world.
In recent years, the general technological level of China's gold industry has improved significantly. For example, the use of technology can manage existing has completely Xuanye formerly called refractory gold, and can achieve a higher recovery rate. In addition, our low level processing technology ore has also been a great discovery. Currently, China already have from the exploration, extraction, processing for the smelting of gold as a chain specialized industrial, some of them have reached international advanced level.
The past 30 years, China has built more than the size of the focus of gold mining 330, Japan and the scale of mining on 11 million tonnes of ore. In 2007, China's gold production reached 270 491 tons, an increase of 12.67%. South African gold production was 272 tonnes, China has overtaken the U.S. as the second-place South Africa's second largest producer of gold. 2008 production gold from January to April, compared with the previous year increased by 5% in the second half will be more growth. Thus, in 2008 China will surpass South Africa as the first producer in the world's largest gold.
In 2007, China's gold consumption to show strong growth momentum, like China, including Hong Kong and Taiwan annual sales volume of China's gold reached a record, reaching 363.3 tons, up 23%. In mainland China, gold demand reached 326.1 tonnes, 26% more than in 2006. Gold jewelry demand for gold jewelry market in China for 10 years, but the first 300 tons to 302.2 tons, become much more United States, second only to gold jewelry in India's second largest market. 2007 Shanghai Gold Exchange, the combined turnover of 1828.13 tonnes gold, an increase of 46.3%, also reached a record since the creation of change.
– China's gold industry, began to highlight the benefits of
In recent years, the technology of gold production in China is improving, the strength of the company is also growing, gold, set gold industry also inject new vitality companies, which are to some extent, the promotion of gold production. Meanwhile, in recent years, newly discovered gold mine of resources, but also for China to become a gold producer power has given a guarantee.
With the increase in melting gold mining and exploration technology of national capacities, the growth of gold production trend is inevitable. In this sense, the vice president of the China Gold Association, gold investment analysts Qualifications, said Hou Huimin, director of the Committee of Experts in 1995, the first time, production China's gold reached 100 tons, China with 13 years in 2008, gold production is expected to achieve growth doubled, reaching 300 tons level.
While China and Australia, Peru, Indonesia and some other countries, gold production has increased, but at the same time, South Africa, USA and production other gold-producing country of gold was falling. In addition, because the gold mining industry, the long investment cycle, the extraction costs are high, from historical data, the number of gold mines in the world can not increase rapidly. Therefore, the coming years, global gold production will not change much, still show a relatively stable situation. And it can show a downward trend, while demand for gold has continued to increase, the pattern of scarcity Gold is basically not going to change. Therefore, gold prices remain high in execution is the main characteristics of future market.
In accordance with the current pace of economic development in China, the gold market is ample space for future growth. Like the people in standards of living, jewelry China's gold market potential is also increasing. Particularly in the coming period, in accordance with the macroeconomic: born in the eighties the population will be around 2007-2012 at the age of marriage. Therefore, the wedding is, without doubt, the gold jewelry market, a growth of consumption.
Currently, the gold group competition targeting large and orderly, cooperation and development of the new model is emerging, industry concentration continues to increase. Golden State support to improve the competitiveness of enterprises and self-development capacity to support large dominant companies to improve competitiveness and self-development capacity to support large dominant firms become stronger and larger, to encourage enterprises to play a large gold capital, technology and talent advantages, through mergers and acquisitions, restructuring and joint development, improve the overall competitiveness of the gold industry. At the same time, to actively support and encourage qualified enterprises to develop the mineral resources of gold abroad.
– The main factors limiting investment gold national
And China's gold production, increased sales is not directly proportional to the current investment in China's gold market has just begun, the scale is relatively small, with a true gold standard of Far Cry of the great powers.
According to statistics, by mid-November 2007, British Bullion Market Association (LBMA) for the gold trade accounted for 13.8% of GDP in the UK, U.S. represented the New York Mercantile Exchange, trade of gold at U.S. GDP, 7.26%, while the Shanghai Gold Exchange, gold trading accounted for the GDP of China is only 0.93%.
As part of the portfolio, gold investment and risk diversification can be achieved in order to avoid. In addition, under the conditions of China's trade surplus remained high through promoting personal physical gold investment not only can have a "gold hidden people", but will also promote the import of gold, strengthening national capacity to withstand the financial crisis, the goal may relieve much pressure reserve currencies.
Market participants agreed that gold current domestic investment is not hot as expected, especially since the current round of global gold bull market, the domestic market, the trend has been weaker than the international market, where rising international gold prices, gold prices rose late internal situation, and when the international price of gold down, the adjustment of domestic prices of gold is higher. Gold and Chinese investors have been the most popular investment products and preferred now in the country, kind of like a pressure Xiangdi gold "in a steady increase in investment hedge against inflation protection, but the volume investment in physical gold, after all, is very limited. China's largest gold market investment, the key is to make great gold market of financial investment. Beyond the physical gold and gold investment products continued to show lack of popularity is low, in particular, investment in future Gold and other important species, with the transaction price fell posture, trade volume has shrunk.
Gold for China's investment in these goods, the current investment market in the country to develop databases, there are four main reasons: first, a faster appreciation of yuan in the channel, a direct dilution of the gold investment rate of return. Correlation with gold prices still have large movements in exchange rates, the price of all the gold in the world "dive" the main reason the U.S. Dollar Index recovered.
At the same time, time, the recent yuan broken "7", also contributed to weak domestic prices of gold. Unless the international gold price rose above the rate of appreciation the yuan, investors have greater profit margins. Therefore, the expected appreciation of the renminbi, investors began to pay more attention to risk exchange rate.
Second, our country experienced a long era of the gold price plans at present, although the market has entered the canal, but because The small size of the market to participate in the financing of small and other reasons, China gold market in the world is also a lack of pricing power "So that the evolution of international markets: London, New York miniature market, can not form the real" China price "and" the China market. "
Third, gold futures of China listed on the first day of high priced, there is no limit on most days, significantly prices above the international gold day, was diverted from the real investment value. This also is involved in gold futures a burden investors, resulting in a lot of investors just entering the market of a large number of losses. In some ways, this is not rational investment, guide the development of an immature market. Fourth, the promotion of domestic investment and gold is not enough education, many investors are unfamiliar with the trading rules in a hurry if one is about the emotions generated stop loss is not conducive to promoting a stable market for long-term growth.
– The largest gold market investment, just the time
Shanghai Gold Exchange, Shen-Rong Long, president noted that at the end of 2007, national balance of household savings more than 17 trillion yuan, a large number of bank deposit personal investment offers great potential for gold. Meanwhile, the current volatile stock market prices, housing market, high prices, an increased risk of the futures markets, while the value of stability of gold, with the role of good conservation, but also a good tool to fight inflation, so gold has been linked to stocks, bonds, funds available for ordinary people after the election of another major investment channels.
At present, the Shanghai Gold Exchange have attracted more 25 million individual investors to participate in gold, gold trade volume of 42.05 tonnes individual. The future will be a major growth market. In addition, opening earlier this year, China's gold futures products will also be perfecting an important step in the gold market in China, but due to trade open primary early varieties of high prices, resulting in the loss to investors, slightly less popular.
The industry says the future of China compete for the gold price in the world of words, that the market really out of the "China price", we must rely on the "troika" common wire. Shanghai Gold Exchange in charge of spot and future gold ahead of gold futures by Shanghai Gold Futures Exchange, the gold ETF by the Shanghai Stock Exchange and other financial innovations, that will allow China to form a complete distribution of gold market system. Meanwhile, the Shanghai Gold Exchange, Shanghai Futures Exchange and Shanghai Stock Exchange is the "troika" of their duties, work together to jointly building the gold market in China is based on a gold production and consumption base, the place and the balanced development of the OTC market, the global gold market, "third pole".
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