The World Gold Council (WGC) stated in a latest update that in 2021, the 56% y-o-y rise in Chinas gold consumption marked a strong comeback from 2020. And Chinese gold demand will likely remain strong in 2022. WGCs quantitative analysis supports this view, despite concerns around a potential slowdown in Chinas economic growth. Additionally, there are qualitative factors that might provide further support, including: an increasing interest in gold jewellery among young consumers greater pricing transparency the endeavour of local commercial banks to sell physical gold products.
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