Demand In China Sparks Gold Rise

Bloomberg reported the recent rise in demand for gold in China caused the price of gold futures to rise for the first time in three days. Imports by China from Hong Kong increased sixfold from the previous year, for a total of 75,635.7 kilograms.

Sterling Smith, a commodity analyst at Citigroup Inc.’s institutional client group in Chicago, commented:

Higher physical demand in China is good news for the market. The mildly weak dollar is also positive.

Click here to read the full Bloomberg report.