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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ahda who wrote (35889)	6/25/1999 12:50:00 PM
From: Alex	Read Replies (1) \| Respond to of 116782

6/25/99 - Low Prices, High Demand of Gold <Picture> CHINA, June 25, AsiaPort -- Gold and jewelry sales in China are expected to increase by up to 10 percent this year, according to industry experts. The People"s Bank of China has pushed down the purchasing price of gold by 7.4 percent per gramme and adjusted the selling price accordingly, which should stimulate gold consumption by Chinese people. According to a survey recently conducted by the International Platinum Association in Beijing, Shanghai, Hangzhou, Nanjing and Dalian, platinum ornaments are the favorite choice for over 30 percent of women between 20 and 40 with average family monthly income above 1,600 RMB yuan (US$ 193). At the 16th session of the China Jewelry Fair in April this year, sales of platinum of ornaments accounted for 31 percent of the total. According to industry statistics, 500,000 ounces of platinum jewelry were sold in China last year, accounting for 21 percent of the world"s total and second only to Japan. The figure in 1993 was only 1 percent. Sixty to 70 percent of urban residents are estimated to own gold jewelry, while only 20 percent own gold jewelry in rural areas. -0- Copyright 1998 Alestron, Inc. 19990625: AsiaPort Daily News