Now, China is the top gold mining country in the world with more and more mines being readied for production. Like in the case of agricultural commodities, for gold mining also, China is the right place to be in, if chief executives of some leading gold mining companies in the world are to be believed.

One major factor which goes to help China to achieve the mining super power status is cheap and easy availability of capital. China, currently the largest gold producing country in the world, was highly prospective for the precious metal but under explored. About 10,000 gold deposits had been identified within its borders so far.

And while Australian gold production had steadily declined since 2005, China’s gold production continued to grow.

Precious metals are spurring the commodities boom in China. Now that China has vowed to increase its gold reserves to 10,000 tonnes in the next 10 years, global precious metals market is now solely focused on China. China is hot. Investors are hot on China. Commodities are hot in China.

David Lew is a precious metals commentator with Commodity Online. You can contact him at info@commodityonline.com

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook