Asian Investors Stricken by Gold Fever
Source: Reuters, Manolo Serapio Jr and Rujun Shen††(7/21/11)
"Record high prices 'won't scare away investors. . .'"
Gold fever is gripping Asian investors and could spread to central banks as global growth uncertainties tarnish the appeal of other assets, putting bullion on course for more gains but also provoking fears about supply.
Asian giants India and China, the world's two biggest consumers of the precious metal, expect to see demand continue to climb for the rest of the year, as growing wealth and stubbornly high inflation make bullion an attractive asset.
"Record high prices won't scare away investors," said Shi Heqing, an analyst at Antaike, a state-backed metals consultancy based in Beijing. . . View full article