Weddings Could Boost Chinese Gold Demand Past India

With India's apex bank stating there is `ample available evidence' to suggest a moderation in gold imports appears to be underway in June, a new buyer has stepped in to snap up gold. China is set to overtake India as the precious metal’s biggest consumer, following the many restrictions plaguing Indian consumers.   LINK...

Chinese Gold Buying More Than Doubled in Q1

If the bull market for gold is over nobody seems to have told the Chinese. Net gold flows from Hong Kong to China surged to 223 tonnes in March, up from 97 tonnes in February taking total imports in Q1 to more than half of the record 557 tonnes imported for the whole of last year.

And that was before the 50 per cent plus surge in physical buying in April when the gold price crashed bringing out a huge number of bargain hunters across Chinese cities. ArabianMoney witnessed the queues in several Chinese cities during our tour last month.  LINK...