Subscribe free to our newsletters via your
. Space Industry and Business News .

China gold consumption leaps 41% in 2013
by Staff Writers
Beijing (AFP) Feb 11, 2014

China's gold consumption soared 41.36 percent in 2013, industry data showed, with state media reporting Tuesday the country has probably overtaken India as the world's largest consumer of the precious metal.

Last year, China consumed 1,176.4 tonnes of the yellow metal, the China Gold Association said in a statement.

The surge in demand was partly led by frenzied purchases by "middle-aged" "bargain-hunting" Chinese women who bucked the international market trend of falling prices to get cheap deals, the official Xinhua news agency said Tuesday.

In the first three quarters of 2013, China's demand for gold totalled 779.6 tonnes, compared with India's 714.7 tonnes, according to figures previously released by the World Gold Council.

The British-based WGC usually publishes its full-year Gold Demand Trends report in February.

Demand for jewellery and bullion made up the lion's share of China's consumption last year, rising 42.52 percent and 56.57 percent respectively to 716.5 tonnes and 375.7 tonnes, the CGA figures showed.

Analysts expect sales of gold bars and jewellery to keep rising in the next three to five years on the back of increasing Chinese incomes, Xinhua said.

But overall gold consumption may slow this year due to a weak market outlook, it added.

In 2012, consumption rose only around 10 percent, the report said.


Related Links
Space Technology News - Applications and Research

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Towards tailor-made adhesives
Heidelberg, Germany (SPX) Feb 07, 2014
Tape, self-adhesive labels, Post-it notes and masking tape all contain soft adhesives. This makes them easy to remove-a process referred to as debonding. French scientists have studied how soft adhesives work in the hope of facilitating the design of more efficient adhesives. Francois Tanguy, a researcher at ESPCI ParisTech, the School of Industrial Physics and Chemistry, in Paris, France, ... read more

Data links quick fix

China gold consumption leaps 41% in 2013

Towards tailor-made adhesives

MDA announces Canada's DND Sapphire satellite completes commissioning

US Marines Reach Milestone For New General Dynamics-built Aviation CCS

MUOS Satellite Tests Show Extensive Reach In Polar Communications Capability

Space squadron optimizes wideband communication constellations

GA-ASI and Northrop Showcase Unmanned Electronic Attack Capabilities

Russian Telecoms Satellites Readied for March Launch

Ariane 5's heavy-lift mission is an on the numbers launch success

Antrix to launch UK and Singapore satellite using India's Polar Satellite Launcher

58th successful launch in a row of Ariane 5

GAGAN System reaches certification milestone in India

Lockheed Martin Powers On Second GPS 3 Satellite In Production

India to launch three navigation satellites this year

NGC Wins Contract For GPS-Challenged Navigation and Geo-Registration Solution

Turkey vows to go ahead with new airport despite court order

Lone survivor found as Algeria plane crash

LockMart Wins UK Apache Targeting and Pilotage System Deal

A BARREL of Fun in Antarctica

Stirring-up atomtronics in a quantum circuit

Diamond defect boosts quantum technology

Integration brings quantum computer a step closer

New quantum dots herald a new era of electronics operating on a single-atom level

Swarm heads for new heights

AGU and Wiley Launch Open Access Journal, Earth and Space Science

ESA eSurge project delivered by CGI to help predict ferocity of UK coastal flooding

High resolution, digital bathymetry now available off-the-shelf

S. Korea fisheries minister sacked over oil spill

France to start pumping out Spanish ship broken in three

Cooperative SO2 and NOx aerosol formation in haze pollution

Asian ozone pollution in Hawaii is tied to climate variability

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement