BEIJING, Sept 1 (Reuters) - Investors must be cautious in buying into gold and alert to possible gold price 'plunges' caused by heavy selling by overseas central banks, said Zou Pingzuo, a researcher with the People's Bank of China.
'Amid a hot wave of gold investment, investors must be even more cautious about getting into the market; they must be alert to any gold price plunges triggered by sell-offs at central banks in overseas countries, including the United States,' Zou was quoted by the Financial News, a central bank paper, as saying.
The comments came as U.S. gold futures rallied to a two-month high on Tuesday, as uncertainty about the economic recovery boosted the metal's appeal as an alternative investment.
(Reporting by Zhou Xin and David Stanway; Editing by Jonathan Hopfner)
((xin.zhou@thomsonreuters.com; +8610 6627 1220; Reuters Messaging: xin.zhou.reuters.com@reuters.net)) Keywords: CHINA GOLD/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Amid a hot wave of gold investment, investors must be even more cautious about getting into the market; they must be alert to any gold price plunges triggered by sell-offs at central banks in overseas countries, including the United States,' Zou was quoted by the Financial News, a central bank paper, as saying.
The comments came as U.S. gold futures rallied to a two-month high on Tuesday, as uncertainty about the economic recovery boosted the metal's appeal as an alternative investment.
(Reporting by Zhou Xin and David Stanway; Editing by Jonathan Hopfner)
((xin.zhou@thomsonreuters.com; +8610 6627 1220; Reuters Messaging: xin.zhou.reuters.com@reuters.net)) Keywords: CHINA GOLD/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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