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China Gold Imports To Keep Growing After Hitting Record High

Capital Market/ 16:42 , May 09, 2013

Chinese gold imports are likely to swell further after more than doubling to an all-time high in March as retail consumers pounced when prices plunged to a two-year low last month. China is the world's second largest buyer after India, and in both countries the steep fall in international gold prices in April unleashed years of pent up demand for coins, bars and jewellery. That will help bolster prices for the metal, which has been abandoned by funds in other parts of the world in the wake of its historic fall. 

“Physical demand picked up significantly over the last couple of weeks. Consumers and industrial users tend to see price drops as buying opportunities,” Zhang Bingnan, secretary-general of the China Gold Association

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