China's demand for gold will surpass supply by at least 550 tonnes by 2015, according to statistics from China Gold Association.
A report by news agency Xinhua says the Association's latest data shows China bought 832.18 tonnes of gold in the last financial year -- almost 10% more than in the previous year.
Gold jewellery imports increased by almost 11% year on year to 502.75 tonnes, while imports of gold bars climbed more than 12% to 240 tonnes and imports of gold coins climbed more than 21% to 25.3 tonnes.
China's total gold imports rose 24% in the fourth quarter, in comparison with global demand for gold as an investment increasing just 2%, according to figures released by the World Gold Council.
China is the world's second-largest gold consumer after India, as well as the world's biggest gold producer with year-on-year growth of almost 12%.
Industry analysts quoted by CRI said a projected production increase is unlikely to meet rising demand, with imports filling the gap.
A report by news agency Xinhua says the Association's latest data shows China bought 832.18 tonnes of gold in the last financial year -- almost 10% more than in the previous year.
Gold jewellery imports increased by almost 11% year on year to 502.75 tonnes, while imports of gold bars climbed more than 12% to 240 tonnes and imports of gold coins climbed more than 21% to 25.3 tonnes.
China's total gold imports rose 24% in the fourth quarter, in comparison with global demand for gold as an investment increasing just 2%, according to figures released by the World Gold Council.
China is the world's second-largest gold consumer after India, as well as the world's biggest gold producer with year-on-year growth of almost 12%.
Industry analysts quoted by CRI said a projected production increase is unlikely to meet rising demand, with imports filling the gap.
More information can be found online at http://www.goldbullionadvisors.com
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