China Remains Global Biggest Gold Spot Market

Shanghai (July 3)   SinoCast -- The Shanghai Gold Exchange (SGE) revealed that  China  has remained as world biggest gold spot market for seven consecutive years, with domestic gold spot trading volume reaching 11,600 tons in 2013.

 Shanghai  headquarters of The People's Bank of  China  (PBOC) revealed domestic gold futures trading volume surpassing 40,000 tons in 2013, with gold trading volume reaching 4,501 tons for commercial banks. That is to say, overall investment in major gold market exceeded 56,000 tons.

 The China Gold Association  predicted domestic gold demand of 1,176 tons in 2014, with  China  remaining world biggest gold consumer.

Source: Sinocast Investing & Securities Beat (China)