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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

China: Gold Demand Drops 30% During May Day Break

Posted on 16 May 2014

The Chinese are buying less gold this year and demand during the Golden Week holidays that began on 1 May dropped some 30% from a year ago, according to a leading bullion exchange. After an extraordinary year for gold sales in 2013, the situation is back to something like 2012, according to Haywood Cheung, president of the Chinese Gold & Silver Exchange Society.
While China beat India as the biggest bullion consumer last year, the buying craze triggered by a price slump last April has not been repeated, according to Heraeus Metals Hong Kong………………………………………..Full Article: Source


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