China's Gold Production Drops in July
Gold Output in China Down 3% to 31.1 tonnes in July
Chinese miner holds gold-bearing ore
The production of gold in China fell to 31.059 tonnes in July according to the country's Ministry of Industry and Information Technology.
Gold production in China was 2.7% lower than June's record production of 31.897 tonnes of gold, but was still 17.8% higher than production in July 2009 and the third highest month total ever.
Output of gold from China during the half of 2010 totaled 159.240 tonnes, about 10% higher than the same period of last year. Here are China's gold production figures for the first half of 2010 and July:
China has been able to increase the output of gold each year since 2004, producing a total of 313.980 tonnes last year. But skyrocketing Chinese investment demand is quickly outstripping supply.
In an effort to help the gold market meet rising demand, the Chinese government recently made further steps toward to the complete liberalization of the gold sector in China. In a recent free Wealth Daily report, I discuss how relaxed regulations on China's gold industry could have dramatic effects in the fragile world supply/demand balance for gold, which could send gold prices surging higher.
I also briefly talk about two junior gold stocks that are hoping to strike it rich with some very prospective gold properties in China. You can read my latest free report by clicking here or finding it on the Wealth Daily website called: China's Gold Bull Market
Editor, Wealth Daily
Investment Director, Hard Money Millionaire and Underground Profits
P.S. To learn even more about China's rapidly developing precious metal industry, check out another of my recent Wealth Daily articles called China's Silver Bull Market.
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