gold Supply of
More than 80 countries in the world produce gold. The main gold resource countries are South Africa, Russia, China, Uzbekistan, Australia, Canada, Brazil, etc. The supply of the world gold market mainly includes the following aspects: mineral gold in the world's gold producing countries; Regenerated gold; Official gold sales, such as those of the central bank or the International Monetary Fund.
China is one of the most important gold producing countries in the world, with gold producing areas all over the country, and almost every province has gold reserves. China's gold production is mainly concentrated in Shandong, Henan, Jiangxi, Fujian, Yunnan and other places.
In 2010, China's output of mineral gold was 340.88 tons, up 8.57% year on year, ranking first in the world for four consecutive years.
Demand for gold
consumer demand
The consumption demand of gold mainly includes the following aspects: jewelry industry, electronics industry, dentistry, official gold coins, gold medals and imitation gold coins. Generally speaking, the development speed of the world economy determines the total industrial demand for gold. Although the progress of science and technology has made gold substitutes constantly appear, the demand for gold is still rising due to its special metal properties.
The development of the world economy determines the consumer demand for gold. When the economy continues to grow, people's income level continues to improve, and living standards continue to improve, the demand for gold jewelry, ornaments, etc. will increase. From the current gold demand structure, jewelry demand accounts for more than 40% of the total market demand. Asia, especially China and India, has the tradition and habit of gold consumption, and the economy of these two big countries is developing rapidly, and the income of residents is increasing rapidly.
Reserve demand
The demand for gold reserves mainly refers to official reserves. Official reserve is one of the important means used by the central bank to prevent financial risks. From the current situation of the world's central banks, Russia, China and Japan, as political and economic powers, have small gold reserves. At the end of 2010, China's foreign exchange reserves reached US $2847.338 billion, while gold reserves were only 1054.1 tons, accounting for only 1.7% of China's total foreign exchange reserves, far below the level of developed countries in Europe and the United States.
Investment demand
Due to the characteristics of value preservation and value preservation, there is also an investment demand for gold. For ordinary investors, the purpose of investing in gold is to maintain its value under inflation. In addition, investors can also take advantage of gold price fluctuations to obtain price spread income.
At present, the political situation in some parts of the world is turbulent, and the price trend of oil and the US dollar is unclear, leading to the relatively violent fluctuation of gold price. There are many varieties of gold spot and derivatives attached to gold, highlighting the investment value of gold, and increasing investment demand for gold.
