Chinese buy less gold, but with near-record spending

Bullion Vault/Adrian Ash

Graphic image of Chinese symbol for prosperity“In cash terms, however – and judging each calendar quarter’s figures against average Chinese Yuan prices – consumers actually raised their spending on gold in 2019, up 4.4% to the largest-ever total in Yuan terms outside of 2013’s all-time high, when gold’s steepest price drop in three decades unleashed record demand.”

USAGOLD note:  Statistical allure is in the eye of the interpreter and we prefer Ash’s interpretation of the China data to some of the other report we have seen on this subject.

Image = Chinese symbol for prosperity

Repost from 1-23-2020

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