Chinese Gold Demand To Remain Strong, Middle Class Still Growing – HSBC

London (Apr 16)  A lot of attention has been focused on disappointing Chinese data, but commodity analysts at HSBC say they don’t expect a weakening economy will have a drastic impact on the Asian gold market. “Despite the slowing of growth in the Chinese economy, it is still growing nonetheless, which supports our view of expectations for growing bullion demand in that country on the back of rising income, particularly in the middle to upper middle class,” they say. They also note that the bank’s chief China economist, Qu Hongbin, expects the government to deploy more monetary easing measures to support the country’s economy.

Source: KitcoNews

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