By Cecilia Jamasmie
MINING.com
While China’s gold demand is likely to stay flat this year as a result of the country’s economic slowdown and constrained credit markets, the World Gold Council said Tuesday private acquisitions will rise to at least 1,350 tonnes by 2017.
Gold demand in China has expanded every year since 2002, when it declined, according to the industry group, whose forecasts are closely watched in the gold market.
The nation’s appetite for the yellow metal has helped to underpin gold prices since 2001, when many price and trading restrictions were relaxed. Last year saw frenzied buying as Chinese investors and jewellery buyers sought to capitalize on low prices.