Ruchika Shah |
Mumbai
May 9, 2012
Last Updated at 19:06 IST
China gold imports rise 6-fold in Q4
Febuary imports up 13 times year on year
China gold imports were six times higher in the quarter ended March 31 at 135.53 tn, up from mere 19.73% in the same period last year, the Census and Statistics Department of Hong Kong government was quoted by a Mangal Keshav commodities report.
The World Gold Council in its Gold demand trends report for 2011 had reported that in China, jewellery and investment demand reached 769.8 tonne for the full year representing 82% of India's level. WGC said that the figure has only recently risen above the 50% mark, reflecting the strength of China's presence in the gold market.
According to the Council, this figure was slated to rise in the present fiscal.
Febuary imports for the company were up at 49 tn, a 13-fold rise from the same month, year ago.
The country imported a total of 436 tonne of gold in the eight month period of July to Feb, up from 57 tonne in the same period year ago.
This represents a 25% increase in total global investment demand for gold.
