China Gold Purchases Jump 41 Percent in 2013

Rene Mensen

China Gold Purchases Jump 41 Percent in 2013 (Reuters)

If you were one of the gold investors sent packing in 2013 when the barbarous relic lost more than 30 percent of its value, your golden stash was probably picked up by China. The Chinese were so enamored with gold’s price slide in 2013 that the country’s total purchases for the year exceeded 1,000 tonnes for the first time ever. Increased demand was paced by jewelry purchases (up 43 percent to 716.50 tonnes) and bullion demand (up 57 percent to 375.73 tonnes), according to the China Gold Associations. For 2014, as long as the price per ounce remains around $1,200, you can expect a continued run for the gold from the Chinese… Is that enough for you to catch the gold bug?

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Wayne Ellis

Wayne Ellis has been involved in the financial publishing industry for more than 15 years. During that time, he has helped to edit, to market and to launch products and services for Ernst & Young, LLC, Fidelity Investments, Agora, LLC, and Eagle Financial Publications. He currently puts his broad-based experience and industry expertise to use as a contributing writer for Eagle Financial Publications. He also is a graduate of Arizona State University.