China’s thirst for gold continues
Chinese trend for increased imports of gold looks set to continue.
China’s gold imports in April 2011, achieved a 63% increase with 101.7 tonnes of the previous metal imported for the month, not quite a record as last November gold imports hit the scales at 102.5 tonnes, however the upward trend doesn’t seem to be waning with total annual imports up from 120 tonnes in 2010 to 380 tonnes for 2011.
Although not yet knocking India off the No 1 spot, with imports of 800-1000 tonnes each year, yet gold demand is to expected to decline by 4% in 2012. Interesting watching to see how far these stories develop.