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Tuesday, 24th May 2005 (5837 views)

The efforts of the World Gold Council (WGC) have helped drive a surge in demand for and consumption of gold in China.<br/><br/>The WGC has been working with jewellery retailers and well-known brands in China for some time to promote the popularity of K-gold, or 18 karat gold, products.<br/><br/>Figures reported in China Daily indicate that consumption of K-gold rose to 12 per cent of all gold jewellery consumption last year - six times more than the two per cent seen in 2004, and more than twice the five per cent seen in 2003.<br/><br/>Overall gold demand in mainland China climbed to 70.9 tons in the first quarter of 2005, compared to 62 tons a year ago, WGC statistics reveal.<br/><br/>Demand for gold jewellery meanwhile rose by 13.2 per cent year on year to reach 66.8 tons, while retail investment increased by 35.8 per cent to 4.1 tons.<br/><br/>James Burton, CEO of the WGC, said that favourable policies installed by the Chinese government should make it easier for Chinese investors to choose gold as an investment vehicle.<br/><br/>"Gold is an important part of an investment portfolio, as it maintains long-term value and is a good hedge against inflation," Mr Burton stated.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8577458"/>

 

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