(0411 CR M11)GOLD BUYING TO HEDGE INFLATION

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(0411 CR M11)GOLD BUYING TO HEDGE INFLATION DATELINE: April 11, 2011 LENGTH: 00:02:47 PKG INTRO As people in China are overwhelmed by anxiety about soaring prices, some residents in Beijing believe they have found a good alternative to hedge against price increases: gold. China Report explains. PKG At Caishikou Department Store, the largest gold dealer in downtown Beijing, counters of the gold dealer are swarmed by people who are eager to purchase gold bullions, as well as platinum, jade, diamond and other precious jewelry. Gold hit a new high of more than 1,471 U.S. dollars an ounce last week on global markets. The international optimism towards a bull market for the precious metal has a more realistic reason in China: as a means to protect your wealth from soaring inflation. Meanwhile, the Chinese government has announced that price controls remain one of its top priorities this year. The Consumer Price Index, or CPI, a main gauge of inflation, rose 4.9 percent year on y Powered by www.newslook.com Producer : Xinhua News Agency

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