Saturday, 10 February 2018

Nowhere Is Gold Demand so Pronounced as It Is in China

When looking at gold as an investment and a long-term store of value, one tends to focus on other the behavior of other gold investors, increasing federal government reserves, investment bank warehouse holdings, etc. But one of the beauties of gold is that there is a great deal of consumer demand for it, too. One of the beauties of gold is the beauty of gold.

Nowhere is this demand so pronounced as it is in China. And it is rising, especially among young consumers.

Wang Lixin, managing director of the WGC in China, said that annual demand in China last year was 8 percent higher than in 2016, comfortably above its five-year average of 284.8 tons.

"Looking at jewelry demand, China's 6 percent growth year-on-year in the sector in the fourth quarter heavily contributed to a 3 percent rise in annual jewelry demand-the first yearly increase since 2013," Wang said.

- Source, China Daily