On December 29th, the 60th MBA forum was held in GSB. Mr. Zhen Weigang, general manager of Guangdong Yuebao Gold Investment Co., LTD gave us a lecture introducing the development and trend of gold market. The forum was hosted by vice dean Zeng, and Professor Sun Xiaoqin, dean of GSB presented a souvenir to Mr. Zhen.
Mr. Zhen started his lecture from the overview of gold and world gold market. Gold, one of the earliest-found metals by human being, is symbolic of the sun, power and wealth. It has dual attributes of commodity and currency. In the past, China’s gold market was strictly regulated by the government, but after China implemented reform and opening-up policy, the gold market has become increasingly open.
Mr. Zhen said that there were many factors influencing the price of gold, including its negative correlation with US currency exchange rate, geo-politics, changes in international economy and finance, change of gold reserves, output of major gold mines and so on. For example, during the Arab-Israeli Conflict and after 911, the price of gold increased sharply. In terms of the trend of gold price, Mr. Zhen said that from 2001 to 2011, the gold price was on the increase, but in 2012 the gold market experienced a turning point. Due to the recovery of American economy, the alleviation of sovereignty debt crisis in the Eurozone and the ease of Middle East crisis, the price of gold would continue to drop in the next year.
After the lecture, the enthusiastic students also asked many questions to our speaker.
