Bullion consumption in the world's second-largest economy will surge 29
percent to a record 1,000 metric tons in 2013, according to the median
of 13 estimates from analysts, traders and gold producers in China
surveyed by Bloomberg News. Demand that may ease 2.4 percent in 2014
from this peak still points to purchases greater than any other nation
and more than the U.S., Europe and the Middle East combined.
China's
demand for jewelry, bars and coins rose 30 percent to 996.3 tons in the
12 months to September, while usage in India gained 24 percent to 977.6
tons, according to the London-based World Gold Council. India was No. 1
for calendar 2012.
Gold's 12-year rally, the longest in at least
nine decades, is poised to continue in 2013 as central bank stimulus
spurs investors from John Paulson to George Soros to accumulate the
highest combined bullion holdings ever.
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