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« First Gold Manipulation, Now Silver? - Lead Researcher In Libor Case | Main | Capital Controls and a Bank Holiday in Greece… Here’s How You Can Profit »

China equities crash won’t benefit gold

LONDON – There has been a fair amount of speculation, including by ourselves, that the disastrous slump in the Chinese equity markets might prompt investors to switch to gold as a safe haven. Indeed we have seen physical gold flows into China already at record levels this year – with the half-year figure for withdrawals from the Shanghai Gold Exchange hitting a new record of approximately 1,180 tonnes – beating the previous 2013 record by around 90 tonnes plus. And 2013 is so far the record year for Chinese gold demand with full year SGE withdrawals of close on 2,200 tonnes.

However, although the earlier strength in Chinese equity markets has been seen by mainstream analysts as diverting investment from gold into stocks and shares, the reverse may well not be true according to the latest Precious Metals Weekly from major global specialist consultancy, Metals Focus.

Lawrence Williams

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