China’s gold demand climbs by 5.7% to 1,151 tons in 2018: CGA
“Commerzbank notes that the gold demand reported by the China Gold Association is almost 200 tons higher than the one from the World Gold Council. ‘That said, the WGC’s figure does not include China’s industrial gold demand, which grew sharply last year,’ Commerzbank says. ‘This year, it expects Chinese gold demand to remain largely unchanged at 950-1,000 tons.'”
USAGOLD note: That 950 to 1000 tonnes represents roughly one-third the world’s annual mine production.