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China Gold demand rises 20% to 294 tons

from BullionStreet:

China’s gold demand totaled 294t in the first quarter, a rise of 20% on the same quarter last year, as the economy continued to pick up from the downturn experienced in the second half of 2012.

According to WGC, jewellery demand alone in the quarter was a record 185t, up 19% on last year, while bar and coin investment was 110t, rising by 22% from last year.

Demand for gold in China and India was also driven by an increase in bar and coin sales – up 22% year-on-year in China and 52% in India.

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