Thursday, June 16, 2011

China gold official tips 10% domestic production increase in 2011

China's gold production may grow by more than 10% in 2011, Cui Jianguo, vice president of the China Gold Association, told Beijing media, adding that world gold prices would be pushed higher.

"Prices (for gold) in the second half will definitely rise because the factors behind the recent price increases have not changed; there is the European debt crisis, there is Libya and all kinds of economic uncertainties," he said, as reported by Reuters.

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