Date
19 October 2017

China still top gold consumer ahead of India in 3Q, WSJ says

China remained the world’s leading gold consumer in the third quarter, extending a demand gap against India, which is usually the No. 1 consumer of the precious metal, the Wall Street Journal reported on Thursday, citing data from the World Gold Council. Indian consumers’ demand for gold in the three months to September fell 32 percent to 48.2 metric tons from a year earlier, as domestic prices surged amid a decline in the rupee’s value and import restrictions, the report said. Meanwhile, demand in China increased 18 percent to 209.6 metric tons, it said, adding that the two countries account for about half of global demand for the precious metal. For the nine months to September, Chinese and Indian demand stood at 797.8 tons and 715.7 tons, respectively, the council’s data showed.

– Contact HKEJ at [email protected]

CG

 

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