Related News
China’s gold consumption and production hit new records in 2013
Online Edition
CHINA’S gold consumption and production both notched new records last year as bullion prices plummeted, spurring feverish sales of jewelry and bars in the world’s biggest gold market.
China’s gold demand jumped 41.4 percent annually to 1,176 tons in 2013, led by strong growth in jewelry and bars, the China Gold Association said in a statement on its website today. The national industry association is comprised of exploration, mining, processing, manufacturing and other gold-related industries.
China’s yearly consumption has topped India’s 1,000 tons, making it the world’s biggest gold market in 2013, according to data from the domestic association and the World Gold Council.
The World Gold Council said in November that India’s combined demand for bullion in the first three quarters was 715 tons, while China’s was 821 tons.
India’s demand in the last quarter was expected to reach around 250 to 300 tons, Indian newspaper The Economic Times reported in October, citing Somasundaram P.R., managing director at the gold council for India.
Analysts said if it were not for Chinese gold bugs’ feverish buying after gold prices plummeted in April, the market may have sunk more.
The Chinese central bank ranked sixth among official gold buyers with a total holding of 1,054 tons, the World Gold Council said in its latest report last month.
On the supply side, China has been the top bullion producer for seven straight years. Gold production increased 6.2 percent from a year earlier to 428 tons in 2013, the China Gold Association said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
