I would like to take this opportunity to congratulate the newly elected President and members of the Committee. I would also like to thank the ex-President and his committee, for their valuable contribution to the Society during their tenure of office.
Gold is a valuable metal and a symbol of wealth.
It is an international reserve asset as well as a private investment tool. The impressive economic developments and continued rise in the standards of living in the Asia region over the past 50 years have boosted the growth of the jewellery industry and the demand for gold. Although the gold market cannot be spared from the impacts of the Asian financial turmoil that occurred two years ago, the importance of gold, in particular its use as raw material for the jewellery, electronic and other industries has remained unscathed. Under the effective leadership of the Chinese Gold and Silver Exchange Society, and the professionalism and self-discipline of the trade, the gold and silver trading industry in Hong Kong has achieved steady development over the years. With years of persistent efforts and promotion by the Society, Hong Kong has developed into a major gold distribution and trading centre in the world.