Wednesday, October 12, 2005

Record Yuan Price of Gold

Gold price hits record high in Beijing 2005-10-11 19:03:19

BEIJING, Oct. 11 (Xinhuanet) -- The price of gold hit 138 yuan (17 US dollars) per gram in the Chinese capital of Beijing, a record high in the last decade, Beijing Daily said on Tuesday.

General Manager of the Gold Department of the Beijing Art and Craft Mansion, Wan Jian, ascribed the price hike to rising gold prices in both the world and domestic markets, as international gold output has not increased in proportion with demand.

China's huge gold consumption swells during the week-long National Day holiday at the beginning of October, said Wang. The gold sales volume increased by over 15 percent year-on-year during the holiday. End item

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