WGC Sees China Becoming World’s Largest Gold Market

Bloomberg reported that increasing incomes in China may help it become the world’s biggest consumer of gold.

As quoted in the market news:

Demand, which rose to a record in the first quarter, may gain to between 900 metric tons and 1,000 tons this year, from 769.8 tons in 2011, Albert Cheng, Far East managing director at the producer-funded group, said in an interview. Indian usage may drop to 800 tons to 900 tons, from 933.4 tons, he said.

Click here to read the full Bloomberg report.