04 June 2010

Demand up, Supply down

Two news stories in my inbox this morning from Sharelynx:

Demand Up: Gold a ‘Good Choice’ for Boosting Global Use of Yuan

"China’s trade in yuan-denominated gold investment products moves the currency closer toward global acceptance and the country should develop more of them, a central bank official said."

Supply Down: South African gold output falls hard

"In an all too familiar announcement in recent years, the South African Chamber of Mines reported the country's first quarter gold production fell 15% quarter-on-quarter, extending the downward slide in output."

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