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Gold no slam-dunk sell in China as aunties buy bullion

Posted on 28 November 2013

Bullion consumption in the world’s second-largest economy will surge 29 percent to a record 1,000 metric tons in 2013, according to the median of 13 estimates from analysts, traders and gold producers in China surveyed by Bloomberg News.
Demand that may ease 2.4 percent in 2014 from this peak still points to purchases greater than any other nation and more than the U.S., Europe and the Middle East combined. China’s demand for jewelry, bars and coins rose 30 percent to 996.3 tons in the 12 months to September, while usage in India gained 24 percent to 977.6 tons, according to the London-based World Gold Council. India was No. 1 for calendar 2012………………………………………..Full Article: Source


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VRS - who has written 38189 posts on Opalesque Commodities Briefing.


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