World Gold Council: Gold demand growth by 10% in China

Gold price technical analysis 30 - May, 2013

World Gold Council announced on Thursday that demand for gold in China increased 10 percent under the low global demand in the first quarter of 2012, what is recorded the highest historical figures.

In the first quarter the volume of global demand for gold 1097.6 tons, down 5 percent, and the value of gold to be about $ 59.7 billion U.S. dollars, up 16 percent. The price of gold ounces 1690.57 U.S. dollars, up 22 percent. The volume of gold required to invest 389.3 tons, up 13 percent.

At the same time, increased demand for gold to 255.2 tons in China, up 10 percent, its highest historical numbers on a quarterly basis. Including the volume of demand for gold jewelry 156.6 tons, up 8 percentoccupied 30 percent of the world total, making China the largest market for gold jewelry in the world in three quarters continued. The volume ofinvestment demand in gold 13 percent and reached 98.6 tons.

Official expressed the World Gold Council is expected to becomeChina’s largest gold market in the world in 2012.