Mind-Blowing: China Consumes More Gold Than the World Produces
By GCRU Gold News on Friday, February 27 2015, 23:01 - Permalink
This Chinese New Year is no exception. Official “Year of the Ram” gold coins sold out days ago, and since the beginning of January, withdrawals from the Shanghai Gold Exchange have grown to over 315 tonnes, exceeding the 300 tonnes of newly-mined gold around the globe during the same period.
China, in other words, is consuming more gold than the world is producing.