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Can China and India Drive Gold Demand?

Frank Holmes speaks with Catherine Murray on BNN’s Business Day PM about the potential recovery of gold demand in China, spurred on by the multibillion-dollar oil deal between it and Russia. As new job creation and GDP per capita rise in China, so too might the demand for gold jewelry. More good news for gold consumption comes out of India, whose newly-elected prime minister, Narendra Modi, promises to grow the nation’s economy and GDP per capita.

Oil is also a good investment opportunity, says Frank. Russia’s activity in Ukraine and recent energy acquisitions have made the black resource very attractive.

Watch the video to find out how high Frank believes the price of gold will soon rise to.

 

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The HSBC Flash China Manufacturing PMI is published a week ahead of the final HSBC China PMI every month. It analyzes 85-90 percent of the responses to the Final PMI from purchasing executives in more than 400 small, medium and large manufacturers, both state-owned and private enterprises.