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Gold loses shine as Chinese curb jewellery purchases

Posted on 15 August 2014

India regained its position as the world’s leading gold buyer in the second quarter as Chinese demand for jewellery, gold coins and bars dropped sharply from record levels amid a government crackdown on corruption. Soaring purchases by retail customers in 2013 helped China overtake India as the world largest gold consumer for the first time.
The buying frenzy, which led to a temporary shortage of physical gold stocks, was sparked by the 28 per cent fall in the precious metal’s price last year, the worst performance in more than three decades………………………………………..Full Article: Source


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