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Gold output expected to rise by 10% in 2006
Latest Updated by 2006-07-13 15:21:19
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International gold price is relatively stable in July, but China's domestic gold market still witnesses a continuously increasing gold price despite more gold is pouring in.

On July 11, the National Development and Reform Commission estimated that China's gold output would rise by 10% in 2006, bringing in more profits for gold producers. However, international gold price would maintain high in the next few months, probably as a result of current complicated international political situations.

China produced more than 88 tons of gold from January to May this year, an increase of 12% from 2005. The total output of gold industry also increased 25%. China's overall gold output amounted to 1,008 tons in the past 5 years, ranking fourth in the world.

Although international gold price has been fluctuating in recent days, it will still be possibly soaring in the future because of high oil price. China has beefed up its gold exploitation and increased gold reserves in the mining belts of the "Golden Triangles" of Yunnan, Guizhou and Guangxi, and Qinling Mountain and Jiaodong Peninsula.
Editor: Yan

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