China Continues to be Largest Gold Producer

News said that China has been world biggest gold producer for seven consecutive years, outputting gold of 428.16 tons in 2013, climbing 6.23% from a year earlier.

Meanwhile, China ranked global number two in terms of gold reserve. The figure had reached 8,196.24 tons by the end of 2012.

In 2013, China outpaced India as world biggest gold consumer, with gold consumption reaching 1,176.4 tons, rising 41.3%, revealed a high official from the Ministry of Industry and Information Technology (MIIT).

In 2013, China took up 27% of global gold consumption, learnt reporters.

via Kitco

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza