Petaquilla Minerals Ltd. (fka PTQMF)

[VBgood]

China Gold Imports Surge - Estimated at 200 Tonnes in 2011 YTD; Compared to 250 Tonnes in All of 2010

The Financial Times today confirms surging demand from China. “Some traders estimate that the country may already have imported more than 200 tonnes of gold this year, compared to total imports last year of about 250 tonnes – itself a more than fourfold increase on 2009.”

It is safe to assume that the unnamed traders are credible sources as these figures coincide with what industry experts in China and the World Gold Council are saying about surging Chinese gold demand.

Central bank demand from China and internationally and investment demand from China, Asia and internationally will ultimately be the primary driver of the gold market in the coming months and possibly years.

Government legislation of any nature may impede in the short term but ultimately the law of supply and demand will be the ultimate arbiter of price.