China is poised to overtake India as the world's biggest gold market this year, as rising incomes fuel demand for the precious metal and a weak rupee diminishes Indian purchases, the industry body said.
The amount of gold bought in China rose 20pc in 2011 over the year before to 770 metric tons, the World Gold Council said in its annual report. That put China behind only first-place India, where 933 metric tons were bought.
Worldwide, the amount of gold purchased rose 0.4pc to 4,0671 metric tons worth $205.5bn (£131bn).
After the World Gold Council came out with its 2011 year-end numbers, there was no end to the number of stories about it in the main stream media on Thursday. This one is from yesterday's edition of The Telegraph...and is Roy Stephens final offering of the day. The link is here.
