Came from the World Gold Council said the strong demand for investment in the jewelry would push the total gold demand in China to 750 tons per year.
Now buying gold as a means of investment option is more common for the Chinese in the third quarter the past, where the investment is safe in the background of the uncertainty of the economy, on the World Gold Council said in a report on the demand for gold for the third quarter of 2011.
Expansion of demand for bullion and gold coins minted in China by 24 percent from the previous year, reaching to 60.2 tonnes in the third quarter.
Cheng said Liang Hao, Director General of the World Gold Council in the Far East, that in the first nine months, total investment demand in gold 204.1 tons.
At the same time, increased demand for gold jewelry in China increased 13 percent on an annual basis for up to 131 tons, as the retail chains expanded their networks in small towns to meet the increased demand resulting from the high level of income, it said Zheng.
Compared to a global demand for gold jewelry by 465.6 tonnes in the third quarter, down 10 percent year on year.
At the global level, arrived in investment demand in gold to 468.1 tonnes in the third quarter of 2011, up 33 percent from 352.1 tonnes in the same quarter of 2010.
Not surprisingly, become investment demand for gold key driver in the third quarter, “said Marcus ŢŃćČ, general manager of the investment.
“The high levels of inflation and the low rating Alaútmaúa the U.S. and the worsening crisis of sovereign debt in the euro area and the lackluster performance of many assets to pay investors to increase holdings of gold to protect their wealth.”
He said it was likely that investors continue to seek protection from the uncertainty of the economy that shows no signs of abating.
And increased global demand for gold increased by 6 percent year on year in the third quarter of 2011 to 1053.9 tonnes of 991.1 tonnes in the third quarter of 2010, according to the science of the World Gold Council.
The council said it was supplying to 1034.4 tonnes of gold in the third quarter of 2011, up 2 percent compared to last year’s level by 1013.0 tons.