Breaking News, World News and Taiwan News.

Gold price may reach US$1,200 by 2011: exec

SHANGHAI -- Gold may reach US$1,200 an ounce in two years, Feng Zhijian, honorary chairman of the Chinese Gold & Silver Exchange Society, said Friday.

The price of the precious metal may rise as the global recession and political instability in some parts of the world sustain its appeal as a haven investment, said Feng, who was speaking at a conference in Shanghai Friday.

Gold for immediate delivery has gained 6 percent this year as the worst global recession since World War II increased its investment appeal. The metal touched a record US$1,032.70 in March last year. “The recession caused a reassessment of the world's currency system,” Peggy Ye, an analyst at Shenyin & Wanguo Securities Co., said at the conference.

Subscribe to The China Post and save 25%. Click here
Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
Sponsors
Find great real time deals on China Flights. Book flights to China or China domestic flights 24/7.
Buy china wholesale products from reliable chinese wholesalers on DHgate.com!
Save 70% for hotel in Shanghai and 6000 hotels, in Beijing, Guangzhou, Shenzhen, and all China.
Get the best deals for Guangzhou Hotels or choose from more than 10,000 hotels in 499 Chinese cities.
WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search