Chinese Gold Demand Dropped 19% in 1H 2014
By GCRU Gold News on Thursday, July 24 2014, 01:02 - Permalink
China’s gold demand fell 19 percent in the first six months of this year as investors bought fewer bars and coins, offsetting increased demand for jewelry, the China Gold Association said.
Consumption in China, which passed India last year as the world’s biggest user, slid to 569.5 metric tons, the Beijing-based association said in a statement today. Demand for bars sank 62 percent, while gold use in jewelry rose 11 percent, according to the statement.