The Phaserl


The Chinese Gold Consumption Conundrum – Where’s It All Going?

by Lawrence Williams,

There is a large disparity between apparent Chinese total gold imports, and its ordinary domestic consumption. Is this yet another sign of the nation’s government building up its gold holdings?

What is the real level of Chinese gold consumption – and what is included in the announced statistics? There is a host of seemingly conflicting information which is becoming ever more difficult to interpret.

The latest figure for 2013 Chinese gold demand has come from the China Gold Association, which should perhaps know best. The Association stated on its website that the country’s gold consumption grew to 1,176 tonnes last year – with demand for gold bullion rising a massive 57% to 375.7 tonnes and jewellery demand up 43% to 716.5 tonnes over 2012 figures.

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