China has an increasingly important role to play in the global gold market.
- By John March
The market for dealer gold is likely to get a considerable boost in the coming years from emerging economies like India, and perhaps most significantly, China.
A recent article in Canada’s National Post newspaper quotes analyst Alan Heap of Citigroup Global Markets as saying that China is the “most important source” of gold’s demand growth in the future, also noting that in 2009, demand in the country was up by 10 percent.
The newspaper noted that gold is getting increased attention from Chinese investors in light of the recent decision by the government to slow the pace of bank lending activity, which has helped to fuel concern about possible inflation.
Also, the report added that Asian banks have great potential to increase their gold holdings because they hold relatively little of it in comparison to European banks.
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Written by samuel maxwell on February 7th, 2010 with no comments.
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Thursday, January 28, 2010
The financial sector is coming out against proposed new regulatory efforts.
- By John March
The banking industry is warning that efforts by the White House to impose a series of new regulations could backfire by undermining the economy at a time when it is still particularly vulnerable.
A report in London’s Evening Standard newspaper notes that many in the finance industry see proposals by President Barack Obama and British Prime Minister Gordon Brown as unnecessary and potentially burdensome to the industry.
One executive was quoted as saying that if the proposed rules, which in the UK include a tax on all financial market transactions, turn out not to work, the results could fall somewhere between stifled growth and “another crisis.”
Overall, such criticism is reflective of the general uncertainty and unease that surrounds the economic recovery, which in the U.S. has so far been a slow and jobless one. There is also concern that a double dip recession could become apparent in the coming months, largely due to factors like the unemployment situation.
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Written by samuel maxwell on February 2nd, 2010 with no comments.
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Friday, January 29, 2010
Gold coins are a good investment amid current economic uncertainty.
- By John March
A top Federal Reserve official is reminding financial institutions that higher interest rates will be coming eventually, despite the recent decision to keep them at or near zero in light of ongoing economic conditions.
In a recent speech in Arlington, Virginia, Fed Vice Chairman Donald Kohn urged financial institutions to have “sound practices” to deal with the risks they could face from an eventual increase in interest rates, since this could affect their profits and the cost of borrowing and lending activities.
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Written by samuel maxwell on February 2nd, 2010 with no comments.
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