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Wednesday, 8th September 2004 (7155 views)

A new report prepared by GFMS has found that gold demand in China is set to experience a considerable increase.<BR/><BR/>According to latest figures, rising purchasing power is creating a stronger demand for gold jewellery in all its forms and demand potential is much higher than thought.<BR/><BR/>The report claims that demand will increase by three times to 600 tonnes and the additional precious metal would need to come from imports.<BR/><BR/>In addition, a number of factors have been highlighted which could affect the demand, for instance a revaluation of the Chinese currency which would make the metal cheaper in local terms and boost consumption growth even further.<BR/> <BR/>Although it is not completely clear how much gold China has, it is predicted that the country has around 5,000 to 8,000 tonnes.<BR/><BR/>China is rated fourth in the world for gold production and is the third largest consumer.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3375519"/>

 

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