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Coin Collecting NewsChina Gold demand likely to reach record after bumper growth
China’s demand for gold rose in the third quarter as a hedge against inflation and on expectation of strong returns from the stock market, the World Gold Council said yesterday.
Gold demand this year is expected to hit a record, the gold advocate said. Gold demand in China, including the mainland, Hong Kong and Taiwan, rose 24 percent in the third quarter to 88.1 tons, the World Gold Council said.
Mainland gold demand rose 25 percent to 78.9 tons in the three months ending in September. Gold jewelry demand rose 24 percent in the period to 74.8 tons, while investment gold demand rose 43 percent to 4.1 tons on China’s mainland in the third quarter. Read Full Story
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