International Gold prices rallied to record highs last Friday, with spot prices nearing US$1300 oz.

China’s Gold prices followed the trend and continued to climb, but consumer enthusiasm has notbeen affected by the rising Gold prices. It’s China’s traditional Gold rush. The high season for Gold sales coincides with 2 national holidays.

Impacted by a weaker USD and Holiday consumption, international Gold prices hit record highs. In China,the price of pure Gold exceeded 340 yuan per gram, telling us that consumer enthusiasm is just as high as the Gold prices. Chinese consumers have crowded into Gold shops, to find the perfect accessory.

Silver prices have also risen, and even reached a 30 yr high making investments in the metal more attractive than ever these days

We here at LTN believe that the continuous decline of the USD has stimulated investors to choose safe haven products such as Gold and Silver. Couple that with high consumption and investment demand, Gold and Silver prices will continue to rise in the day ahead.—Paul A. Ebeling, Jnr. www.livetradingnews.com

Posted by Shayne Heffernan on Sep 27th, 2010and filed underBRIC.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site