Saturday, May 24, 2014

Chinese Gold Demand to Rise 20% by 2017

A renewed weakness in the dollar and strength in oiland other commodities will add to gold’s appeal during 2014. Also, any major geopolitical concerns, particularly if there is a deterioration of the situation in Ukraine, will add to gold’s appeal. I also expect renewed physical demand from emerging markets like India and China.

The World Gold Council recently forecast that Chinese gold demand will rise 20% by 2017 from the current level of 1,132 metric tons a year.

- Source, Peter Schiff via MarketWatch

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