Chart yenGOLD   Chart yenSILVER  
 
Food for thought
If an economist and an IRS agent were both drowning and you could only save one of them, would you go to lunch or read the paper?
Anonymous  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1293.800.34
Silver 20.29-0.02
Platinum 1456.30-1.45
Palladium 861.900.15
WORLD MARKETS
DOWJONES 16493-68
NASDAQ 4353-17
NIKKEI 15523-98
ASX 5548-76
CAC 40 4203-43
DAX 9210-197
HUI 2373
XAU 991
CURRENCIES (€)
AUS $ 1.4415
CAN $ 1.4654
US $ 1.3430
GBP (£) 0.7984
Sw Fr 1.2159
YEN 137.7900
CURRENCIES ($)
AUS $ 1.0743
CAN $ 1.0915
Euro 0.7446
GBP (£) 0.5946
Sw Fr 0.9058
YEN 102.5700
RATIOS & INDEXES
Gold / Silver63.77
Gold / Oil13.22
Dowjones / Gold12.75
COMMODITIES
Copper 3.22-0.01
WTI Oil 97.85-0.32
Nat. Gas 3.79-0.05
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
China now the world's largest gold jewellery market
Published : February 17th, 2012
287 words - Reading time : 0 - 1 minutes
( 2 votes, 4.5/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

According to the World Gold Council’s (WGC) latest analysis of the gold market, during 2011 Chinese jewellery demand increased significantly to 756.8 metric tons – a 20% increase in comparison with the previous year. Investment demand for gold in China increased by a record 69%. In Europe gold demand climbed for the seventh year in a row. Furthermore, central banks in developing countries have also have been stocking up their gold reserves in order to diversify out of the US dollar.

Notably, during the second half of 2011 – for the first time in history – China outpaced its neighbour India as the world's largest jewellery market. Gold demand from Chinese investors reached a total of 258.9 metric tons, or $13.4 billion. Chinese and Indian demand together accounts for 55% of global jewellery demand. In 2011 total Indian demand was 933.4 metric tons.

In Europe investment demand for gold climbed for the seventh year in a row. Demand for the yellow metal is strong, owing to the continent’s sovereign debt crisis. Some fear that Greece and other peripheral euro countries will buckle under the strain of EU-imposed austerity, and that they will be forced out of the eurozone. This currency turmoil could drastically increase European investment demand for gold. Total 2011 European gold investment demand increased by 374.8 metric tons. Gold demand is particularly strong in Switzerland and Germany.

Meanwhile, central banks in developing countries increased their buying substantially last year. In 2010 all the world’s central banks purchased 77 metric tons net; but in 2011 this figure increased to 439.7 metric tons. This huge surge is a result of emerging countries’ desire to diversify their currency reserves (in contrast, western central banks are not buying gold).

 

 

Thanks to Goldmoney from www.goldmoney.com
Tweet
Rate :Average note :4.5 (2 votes)View Top rated
Previous article by
Goldmoney
All articles by
Goldmoney
Next article by
Goldmoney
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis
Most recent articles by Goldmoney
12/12/2013
12/6/2013
11/15/2013
10/1/2013
9/18/2013
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer