‘Collectors’ spur Beijing to step up production of gold Panda coins
By Jack Farchy in London
Published: June 21 2011 18:52 | Last updated: June 21 2011 18:52
China’s central bank will produce more than double the quantity of gold Panda coins this year than it had planned, in response to a surge in buying from Chinese investors.
The increase in production is “to meet the needs of collectors”, the central bank said in a statement posted on its website. Rising inflation in China and other Asian countries has inspired a surge in gold investment this year, according to bullion dealers, as investors turn to hard assets such as precious metals as a means of wealth preservation.