2011-04-09

ICBC customers traded 24,400 tons of gold in 2010

In precious metal business, ICBC is leading the peers by posting a turnover of 24,400 tons, an increase of 23.6-fold from 2009
Amazingly, only 1500 tons were traded in the first half of 2010!

This is old news from January, but gold volume has probably picked up considerably in 2011.

Gold is not a bubble, but it is at bubble levels of activity in China. There are ads for precious metals, from trading to banking services, at the subway and in apartment buildings.

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