China Gold
Gold: a Chinese Symbol of Wealth
In China gold is not only a symbol of wealth but also of good fortune. The latest gold rush in China has been fuelled by a combination of factors, such as the depreciation of the US dollar, and the price risen a wide range of commodities, including oil. In Beijing, 300kg gold bars minted by China gold coin Inc to commemorate the year of the Rooster, retailing at 125 Yuan (US$15.60) a gram, were sold out within 7 hours on November 19. Again on the 26 of November demand exceed supply even though the price had increased to 128 Yuan.
The strong demand for gold in China has been embraced by the nation’s banks and other financial institutions. The Bank of China’s Shanghai branch, in November introduced “Gold Treasure”. This has been designed to make it easier for the public to invest in gold. Instead of taking delivery of the gold the investor is given a document issued by the central bank certifying the amount purchased. The investor can sell the gold back to the bank and surrender the certificate.
The population of China is 1.2 Billion and China’s potential demand for gold is 37,000 tonnes A Reuters news report recently announced that Financial News, a newspaper published by Peoples Bank of China, urges an increase in gold reserves to diversify the nations forging exchange holdings. Chinas gold reserves stood at nearly 13 million ounces at the end of September, unchanged from the end of last year, official figures showed this nowhere near compares with the US government reserves of 262 million ounce. The newspaper also said Beijing should allow individuals to freely buy and sell gold and encourage residents to store gold. Until now Chinese residents have only been able to buy gold jewellery through retail stores.
It should be noted that the Chinese have used gold jewellery as a form of saving since time immemorial. “In case of an economic crisis, the state could buy gold form residents and use it to pay back foreign debt” the Financial News said.
China’s impact on gold could be as much as one ounce per capita as with the US, so should china achieve the same financial backing it would require 1.2 Billion ounces of gold or 37,000 tonnes. This is the same amount of gold in deposit today in all the Central Banks in the world. This sort of demand will send the price of gold soaring.
About the Author
South African born Keith has lived in the south of England for most of his life. After graduating from University with a degree in Business Information Systems Management he decided to start Strawberrysoup; a website design company based in West Sussex and Dorset.
Keith successfully gained entry into the Southampton University Air Squadron and spent over 12 months training to fly. Since then he has continued to follow his interest in flying and has now began his own training in the form of a Private Pilot's Licence.
Keith also spent 13 months working within the Image and Printing Group at Hewlett Packard in Bracknell. Throughout his time there, he was responsible for many activities including events organisation and website design and maintenance.
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China Gold
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 CHINA 2000 Gold 1 Kilo Chinese Panda 8  US $88,888.88
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 CHINA 2001 Gold 5 0z Lunar Rectangular CHINESE SNAKE US $49,995.00
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 CHINA 1996 Gold Unicorn 5 OZ CHINESE US $39,995.00
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 CHINA 1982 HSIEN FENG ZHEN KU QIAN 10oz 999 GOLD US $38,999.00
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 1984 CHINA 12 OZ GOLD PANDA COIN NGC 63 CHINESE US $25,300.00
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 2009 5oz gold coin 60th anni of PRChina US $22,950.00
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 1990 RARE CHINA 12 OZ PROOF GOLD PANDA COIN 1000Y 69 US $22,500.00
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 CHINA PRC 1986 12 OUNCE GOLD PANDA W BOX CERTIFICATE US $18,000.00
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 1987 CHINA 1000 Yuan 12 Oz Panda GOLD Includes BOX US $16,400.00
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 1988 CHINA Gold Panda SWISS Basel Coin AU PT ERROR 2pcs US $15,000.00
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 MACAU Macao China Portugal Grand Prix Gold Silver US $13,999.00
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 2008 China Beijing Olympics 5 Oz pure Gold Coin Set US $12,995.00
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 1993 RARE CHINA 2 OUNCE GOLD BIRTH OF MAO ZE DONG US $10,000.00
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 China 1995 1 oz Panda Gold Proof 100Y Coin US $8,600.00
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 1987 China 500 Yuan Panda GOLD Proof Box COA 5 oz US $7,850.00
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 China 1987 Panda 5 oz Gold Proof Coin And Original Box US $7,599.00
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 1992 1oz Gold China ID Kite Proof NGC PF69 Mint 1000 US $7,450.00
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 China 1981 1 2 oz Ann 1911 Rev Gold Proof 400Y Coin US $6,900.00
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 1987 CHINA 1 OZ GOLD PLATINUM NEW YORK PANDA COMMEM US $6,500.00
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 1995 CHINA GOLD PANDA SET SMALL DATES GRADED NGC MS 69 US $5,250.00
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 China a sheet 10 of 1994 1 4oz gold panda US $4,980.00
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 China 1991 Gold Piefort Panda 10th Anniversary NGC PF68 US $4,899.00
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 1995 Gold China Panda 5 coin set NGC MS69 LargeDate US $4,898.00
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 2000 CHINA SILVER GOLD DRAGON SET NGC PF 69 UC RARE US $4,800.00
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 1998 1oz Gold China Tiger Proof PCGS PF68 Mintage 1600 US $4,350.00
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Does it look like China is going to win the most gold in this olympics?
China has 12 more golds than America right now and 1 medal ahead of the USA
Does it look like they will win?
Track & field hasn't started yet and swimming is not over!
Jesus, where's the cheating? History has shown that host countries get a 30-40% boost in medal count; and China has been rising its medal count steadily since its first participation.
I knew they were going to explode in 2008. They will probably beat the U.S. in gold medal count by a small margin; while losing in total medal count.
But who cares about silver and bronze anyways? Second place is the first loser, and that's Asian mentality. We are very competitive... Just look at the Men's team gymnastics final. The U.S. was jumping up and down with bronze, while Japan was clearly upset with the silver. We only strive to be the best.