Loading ...We now have official confirmation from the China Gold Association (CGA) that Chinese wholesale gold demand in 2013 reached 2,200 tonnes, in contrast to what all Western consultancy firms and news outlets have been reporting. On September 11 the China Gold Yearbook 2014 (that covers the financial year 2013) was released by the CGA on the China Gold Congress in Beijing.
As you can read below in the translation from a Chinese press release about the China Gold Yearbook 2014, the CGA states Chinese wholesale gold demand in 2013 was 2,199 tonnes; bullion import 1507 tonnes, doré import from overseas mines 17 tonnes and domestically mined gold accounted for 428 tonnes. (scrap supply must have been 247 tonnes)
Why the Western media don’t report on these numbers is “a mystery”. Remember the 1,500 tonnes net imported in 2013 by China exclude PBOC purchases! read more