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Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
 
Toll Free: 888-419-7136

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We use the latest online security processing, so your order is safe & private. We DO NOT disclose any customer information to ANY third party company. Our customer privacy is our priority.

Over 30 Years Experience
Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

Customer Reviews

Why Global Investors Want Access to China's Gold Market

Friday, October 18, 2019

THE STREET-- "Much of the rise of China's gold market comes from the development and growth of the Shanghai Gold Exchange, founded in 2002 by the People's Bank of China, the nation's central bank. In its almost 20 years of existence, the SGE has become the world's largest physical gold exchange. China's government and policy makers created the SGE to be the only official platform for gold in the country, says Samson Li, senior metals analyst, GFMS Refinitiv. All gold imports, domestically mined gold and recycled gold trade through the exchange. 'In order to push the dominance of the SGE further, the Chinese government has also implemented several other policies, including no VAT (value-added tax) on gold purchases, unless a profit is made....According to Metal Focus, China mines 11.5 percent of the global gold output, making it the world's largest gold producer, with 404.1 metric tons produced in 2018...Investors in the Asian nation bought 308 metric tons of physical gold, representing 28.6 percent of worldwide physical gold buying in 2018. Central bank gold buying also contributes to China's gold appetite....Gold's price in non-U.S. dollar terms are already at historical highs. 'The strength of the dollar has hindered the upside in the dollar gold price, which has not been telling the whole story on the global demand for gold,' Li says....Gold often acts as a safe-haven investment for Chinese nationals, too... 'Gold has become one of the most logical investments for the Chinese community,' he says."

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