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Does China need to buy more gold?

Updated: 2012-10-09 08:08
By Zhang Zhouxiang ( China Daily)

For global investors holding gold, the past few weeks must have been a happy time. Since the United States Federal Reserve announced a new round of "open ended" quantitative easing, or QE3, on Sept 13, gold prices have risen from $1,730 to $1,775 per ounce.

On Oct 2, Deutsche Bank even raised its 2013 gold price outlook to $2,113 per ounce, claiming in a research note that, "a surge in the gold price above this level ($2,000 per ounce) is only a matter of time".

Should this grab the attention of China?

Does China need to buy more gold?