Gold demand declines 7% during 2015: report
Source: www.chinamining.org Citation: Global Times Date: April 01, 2016
China`s total gold demand (including jewelery fabrication, industrial fabrication and retail investment, but excluding central bank purchases) fell 7 percent in 2015 to 867 tons, according to a survey Thomson Reuters sent to the Global Times on Thursday.
Last year`s decline was largely due to weaker demand in the first half of the year, when total demand fell 15 percent, with demand for gold bars and jewelery fabrication down 17 percent and 16 percent, respectively, according to the survey.
A sharp correction in domestic equities in the second half of the year saw market sentiment switch in favor of gold, propelling a 5 percent year-on-year recovery in demand, driven by increased concerns about the softening economy and the desire to diversify yuan-denominated assets.
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