CHINA PLANS TO DOUBLE GOLD CONSUMPTION IN THREE YEARS, HOW HIGH WILL GOLD PRICES GO NOW?
DECEMBER 7, 2012
China’s Ministry of Industry and Information Technology has estimated that Chinese ANNUAL domestic gold demand will surpass 1,000 tons by the end of 2015. Yes, you read that correctly. China’s ANNUAL gold consumption is set to double in 3 years, to a pace that will see Chinese consume more gold annually that the total gold reserves of all but 6 nations in the world!
China’s Ministry of Industry and Information Technology announced that it expected Gold consumption in the country would be running at more than double national gold production by the end of 2015, more than double Chinese gold consumption forecast for 2012.