Sunday, February 26, 2012

China Buys 770 Metric Tons of Gold in 2011


China Buys 770 Metric Tons of Gold in 2011

China bought 20 percent more gold in 2011 compared to 2010 bringing the total to 770 metric tons according to an annual report by the World Gold Council.

India, which is the world’s largest importer of gold, bought an amazing 933 metric tons in 2011.Global gold purchases rose 0.04 percent to 40,671 metric tons in 2011.

China, the world’s second-largest economy, has had an increased gold demand based on multiple factors to include higher income levels which resulted in a surge in demand for gold jewelry and the price of gold has also made it a popular hedge against inflation.

The World Gold Council said it's "likely that China will emerge" as the world's largest gold market for the first time ever in 2012.

Investing in gold has become increasingly more popular because of a lack of other investment options in China, the Shanghai Composite Index was down 20 percent in 2011 and Chinese real estate prices have started to fall.

It seems that 2012 is going to be another good year for gold purchases in China.
China continues to be an ideal place for firms looking for growth, what is your firm’s China Market Strategy?

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