The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 4th February 2010 (1788 views)

China is a key market when it comes to the future growth of the gold sector, according to one expert.

Alan Heap, global markets analyst for Citigroup, said in a recent client note that the country could eventually represent "the most important source" of gold demand, the National Post reports.

He explained that Chinese gold investment performed particularly well last year, seeing an increase in demand of ten per cent in total.

The comments come as China looks set to pull into the lead in terms of global gold consumption ahead of India, which has traditionally held the number one spot due to the importance that the precious metal has in its religious festivals and weddings.

In addition, China's reputation as the biggest gold producer in the world was further boosted by recent figures from the China Gold Association showing that the nation's output stood at almost 314 tonnes last year.

 

« Back to Gold News stories