Gold Demand in China Surges 20% to Record in First Quarter
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China’s gold demand jumped to a record in the first quarter as sentiment regarding the country’s economy underpinned consumption during the Lunar New Year, according to a report today by the World Gold Council.
Consumption reached 294.3 metric tons in the first three months, up 20 percent from a year earlier, the council said. Purchases of bars and coins grew at a faster pace than jewelry consumption and more than doubled the five-year quarterly average, the report said.