'Strong reasons' to buy gold

08:40, February 09, 2011      

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China could be the "next big buyer" of gold driven by both institutional and retail investors, Credit Suisse Group AG analyst Tom Kendall said on Monday.

"If you're sitting there in China with money in a deposit account, you're losing between 1 to 2 percent a year through inflation," he said. "But if you look at the growth of gold in renminbi terms, there are clearly some strong reasons for the Chinese to be buyers of gold."

Source:China Daily
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