WGC: China’s gold market: progress and prospects
By GCRU Gold News on Thursday, May 15 2014, 08:00 - Permalink
The World Gold Council commissioned Precious Metals Insights (PMI) to lead the research into the outlook for Chinese gold demand over the medium term (defined as 2014-2017 for the purpose of this report) and to compose this report that details its findings. Philip Klapwijk, founder and Managing Director of PMI, is a veteran of the gold market, with a wealth of experience through his time as Executive Chairman of GFMS and Head of Global Metals’ Analytics at Thomson Reuters GFMS. This research is a synthesis of his intimate knowledge of the Chinese gold market and the World Gold Council’s expertise. This was complemented by a series of in-depth interviews PMI and the World Gold Council jointly undertook with a number of key gold market participants in Shenzhen, Shanghai and Beijing. In addition, the report draws upon the extensive consumer research the World Gold Council has undertaken over recent years. This includes: • A comprehensive usage and attitudes study of over 10,000 Chinese consumers’ relationship with gold jewellery, undertaken in 2011 (TNS). • A piece of regular research conducted between May 2013 and March 2014, with a series of waves asking Chinese consumers about their outlook for gold prices and intentions to buy gold jewellery over the next 12 months (Kadence). • A snapshot of 1,000 Chinese consumers in December 2013 to understand what motivates them to buy gold jewellery and bullion (TNS). The collective knowledge of PMI and the World Gold Council, combined with extensive consumer research and industry expertise, has resulted in a detailed and insightful piece of analysis.