The World Gold Council’s latest issue of Gold Demand Trends reveals that gold demand in 2010 reached a 10-year high in tonnage and an all-time high in value, with China as the strongest market for investment demand growth.
To help meet increasing demand, Bullion Management Group (Asia) Limited (BMG Asia), a wholly owned subsidiary of Bullion Management Group Inc, has opened a branch office in Hong Kong, and is pleased to announce the appointment of Tony Leigh as Managing Director. Leigh will report to Nelson Leung, Head of Asian Operations at BMG (Asia).
Leigh brings with him over 25 years of corporate banking, private banking and wealth management experience, predominantly in the Asia region. Having held positions as a director with the Canadian Imperial Bank of Commerce and Vice President and Regional Sales Manager with Citibank, he will be spearheading business development and marketing initiatives in Asia, with a focus on Greater China (including Hong Kong and Taiwan), Japan, Singapore, Malaysia and the Philippines. “Tony’s extensive knowledge of the financial sector in Asia will be a tremendous asset to BMG (Asia) as we introduce our investment products in this important market,” says Leung.
While the World Gold Council documented positive gold trends in 2010, demand in 2011 will arguably be stronger. According to the Financial Times, China’s gold imports in the first two months of 2011 are estimated to be more than double those of the entire previous year, positioning the country to overtake India as the world’s largest consumer of the precious metal.
“Gold isn’t the only precious metal Asian buyers are interested in,” says Nick Barisheff, CEO of Toronto, Canada-based Bullion Management Group Inc. “Silver imports to China increased roughly fourfold from 2009 to 2010. As inflation and geopolitical tensions rear their heads in 2011, we are seeing significant Asian interest in geographic diversification for fully allocated and insured bullion such as we offer with BMG BullionBars stored in Canada. My sense is that 2011 will be an even bigger year for precious metals in Asia.”
The BMG BullionBars program provides a secure, cost-effective and convenient way to purchase and store certified investment-grade Good Delivery Standards gold, silver and platinum bullion. BMG BullionBars are available in a variety of sizes: Gold in kilogram (32.15 ounces), 100-ounce and 400-ounce bars; silver in 1,000-ounce bars; and platinum in 50-ounce bars. With the BMG BullionBars program, the investor may take delivery or, at the investor’s option, store the bars on an allocated and insured basis.