Pursuits
Gold Demand in China at Record as Bear Market Spurs Sales
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Gold consumption and production in China expanded to records as prices that slumped into a bear market spurred sales of jewelry and bars, underlining a shift in global demand from west to east. Bullion increased.
Usage surged 41 percent to 1,176.4 metric tons in 2013 from the year before, according to data from the China Gold Association today. Output rose 6.2 percent to 428.16 tons, making China the largest producer for a seventh year, the Beijing-based association said in an e-mailed statement.