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Gold demand in China slumps 52% as buying frenzy subsides, WGC says

IMG Auteur
Chris Powell
GATA
Published : August 14th, 2014
116 words - Reading time : less than a minute
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Category : GoldWire

Gold demand in China shrank in the second quarter as consumers in the biggest user bought fewer bars, coins, and jewelry amid a clampdown on corruption and as the buying spurred by last year's price slump wasn't sustained.

Purchases in Asia's largest economy plunged 52 percent to 192.5 metric tons in the three months to June from a year earlier, contributing to a drop in global consumption, the London-based World Gold Council said in a report today.

Every Asian economy tracked by the producer-funded group bought less bullion in the period, apart from Taiwan, as demand across the biggest consuming region shrank 46 percent to 470.9 tons. ...

... For the remainder of the report:

http://www.bloomberg.com/news/2014-08-14/gold...a-contracts-...
Data and Statistics for these countries : China | Taiwan | All
Gold and Silver Prices for these countries : China | Taiwan | All
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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glasstiger   8/14/2014 at 4:42 PM GMT
Profile not specified - check his comments (65)
Follows 0 member    Followed by 0 member     Average note : 85 / 100 -?-
Where are your comments Chris?
Guess you don't have time to analyze the WGC data
Latest comment posted for this article
Where are your comments Chris? Guess you don't have time to analyze the WGC data Read more
glasstiger - 8/14/2014 at 4:42 PM GMT
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