Gold’s Flow East Seen for 20 Years as Incomes Raise Demand

The global flow of gold from west to east that helped to make China the world’s largest user will probably last for up to two decades as rising incomes spur demand, according to the China Gold Association.

China’s consumption, which increased to a record 1,176.4 metric tons in 2013, is expected to be “more or less the same” this year, Zhang Bingnan, vice-chairman and general secretary at the association, said in an interview in Singapore. China accounted for about 28 percent of global usage last year, according to the London-based World Gold Council.