Gold’s wild ride has shaken investors. But in China, buyers just keep stepping up to the plate. Chinese demand for gold bars, coins and jewelry soared by 32% to record levels in 2013, even as the price of gold slumped 28%.
According to the report, China overtake India as the world’s top consumer of physical gold, importing 1,066 metric tons of the metal to India’s 975 metric tons in 2013.
China’s lead over India as the world’s top importer is likely to be sustained.
Contributed By Sonia Narula