China Gold Imports Drop 10% In June 2012
China Gold Imports have dropped another 10% from the previous month.
Although we see decreasing demand from China for gold, China says it will keep buying more this year as the precious metals market is set to grow throughout the second half of this year. Analysts say physical demand is still strong.
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Instead, China is buying more and more U.S. treasuries.
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Disclosure: I am long PHYS.
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