China’s Gold Demand Seen Rising 13% as Council Pares Target

Gold demand in China, the second-largest user after India last year, may expand 13 percent to 870 metric tons in 2012, the World Gold Council said, dropping a forecast for consumption to reach as much as 1,000 tons.

Jewelry demand may expand 7.7 percent to 550 tons, slower than the 13 percent growth last year, Albert Cheng, Far East managing director at the producer-funded group, said in an interview. Demand for bars and coins may gain 24 percent to 320 tons, lower than the 38 percent climb last year, he said.