Commodity Trade Mantra
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Posts Tagged ‘Gold Prices in Yuan’

Chinese Gold Demand 418 Tonnes YTD, West Confused

In the West there’s still confusion about Chinese gold demand. Banks are trying to figure out how in 2013 China imported 1158 mt through Hong Kong & a few hundred metric tons through other ports, mined 428 mt domestically, while demand according to World Gold Council was just 1066 tons.

Chinese Physical Gold Demand YTD 369t Up 51 % Y/Y

Compared to last year, the Chinese gold demand is up 51 % over the same period – China is on schedule to establish a new record, if the world can supply any more gold. The longer this insatiable demand continues the more I start to ask myself where this gold is coming from.

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