From Bloomberg News, here’s an interesting article on how gold imports by China are soaring as inflation is a force we must reckon with by investing in gold. China’s gold imports jumped almost fivefold in the first 10 months from the entire amount shipped in last year as concern about rising inflation increased its appeal as a store of value.
In fact, bullion soared 27 percent this year as the dollar dropped on concern that the trillions of dollars governments are pumping into the global economy may debase the value of currencies. China has pledged to use price controls and may raise interest rates a second time this year to slow inflation that has gained to the highest level since 2008. Time to invest in gold?