China’s 2014 Gold Demand Set to Breach 2,000 Tonnes

Mineweb reported that China looks set to achieve 2014 gold demand of over 2,000 tonnes.

As quoted in the market news:

Historically November and December are strong months for Chinese gold demand ahead of the Chinese New Year (February 19 2015), which suggests gold demand will remain strong through January and the first half of February too.

Indeed should the current weekly demand levels hold up – the past six weeks have seen withdrawals from the SGE of 52 tonnes, 54 tonnes, 47 tonnes, 60 tonnes, 52 tonnes and 68 tonnes respectively – then we could be heading for an annual figure of around 2,100 tonnes. This is not far short of last year’s record of 2,199 tonnes as stated by the China Gold Association in its China Gold Yearbook released in September.

Click here to read the full Mineweb report.