- MarketPulse - https://www.marketpulse.com -

China Expected To Lower Demand For Physical Gold

After last year’s massive bullion buying spree, China’s gold fever is set to cool in 2014 as consumers grapple with a slowing economy, said World Gold Council (WGC).

“The sudden price drop in 2013 meant some Chinese consumers brought forward jewelry and bar purchases, which may limit growth in demand in 2014,” the industry body representing gold miners wrote in a new report on Tuesday.

The surge in demand brought about by lower prices saw China surpass India as the world’s top consumer of physical gold in 2013. The mainland accounts for 26 percent of global private sector gold demand, making it a key driver of the bullion market.

CNBC [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu [6]

Currency Analyst at Market Pulse [7]
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu
Mingze Wu

+Mingze Wu [10]