Gold Buying in China Jumps as Inflation Flares

Bloomberg reports that in the January, 2011 and February, 2011, Gold purchases in China rose to 200 metric tons.

The market news is quoted as saying:

Bullion, which rallied 30 percent last year, surged to a record yesterday as uprisings in the Middle East, quickening inflation and currency debasement boosted global demand. China’s consumer prices rose 4.9 percent in January from a year earlier, exceeding policy makers’ 4 percent ceiling for a fourth month.

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