Is China Hoarding Gold In Anticipation Of A Global Financial Implosion? 10 Facts About Gold Fever In China That May Surprise You

China officially has gold fever.  Chinese demand for gold in 2011 is being called “explosive” and “voracious”.  China imported five times as much gold in 2010 as it did in 2009, and this year gold sales in China are projected to easily set another new all-time record.  China produces more gold than any other nation on the planet and last year the Chinese consumed more than twice as much gold as Americans did.  Yes, the Chinese are officially in love with gold.  But why is that?  Is it because they are concerned about inflation?  Is it because the Chinese are losing faith in paper currencies?  Are the Chinese looking to diversify?  Has gold become a “trendy” status symbol in China?  Or is something else going on here? (Read More...)

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