London (AFP) - China's annual
demand for gold could jump around 20 percent by 2017 as more of its
increasingly wealthy population seek new ways to make money, the World
Gold Council predicted on Tuesday.
The forecast by the WGC comes after China became the world's largest gold-consuming nation in 2013, overtaking India.
Annual
demand for gold in the form of jewellery, coins and bars is set to hit
"at least 1,350 tonnes by 2017", the WGC said in a report on China.
That would represent a rise of nearly a fifth from the country's record consumption of 1,132 tonnes last year.
"The
traditional appeal of gold to the Chinese people and consumers'
optimistic outlook for prices should result in private sector demand
from all sources climbing to at least 1,350 tonnes by 2017," the
London-based council said.
Gold
prices slumped by a nearly a third last year as investors abandoned the
perceived safe haven investment in favour of stocks and other riskier
bets.
But global demand for gold
in jewellery grew to its highest for 16 years as consumers in Asia and
the Middle East scrambled to take advantage of the lower prices.
In
China, rising demand for the yellow metal has also been driven by the
growth of its increasingly-wealthy middle class, high levels of savings
and restrictions on other investments.
Still,
the council warned that a possible slowdown in the world's
second-largest economy as it moves away from rapid export-led growth
could dampen gold demand.
"China
faces important challenges in moving from an investment and export-led
growth model to a more balanced one in which private consumption plays a
larger part," said the body.
"Although
the risks associated with this economic transformation should not be
underestimated, on balance this process should result in a considerably
higher level of consumer spending, which ought to favour the jewellery
sector."
One of the report's authors, Alistair Hewitt, noted that Chinese gold demand had tripled in the decade to 2013.
And
he predicted that the Chinese gold market would continue to develop
over the course of the next few years, driven by cultural affinity, the
increase in income and government support.
"There
is a huge groundswell of people becoming wealthier, that have more
money to spend on jewellery and more savings to invest," he told AFP.
"For
many people, gold is the preferred form for savings amid volatile stock
markets, overvalued property and low interest rates being offered by
banks."
Gold jumped to a two-and-a-half-week peak at $1,330.59 an ounce on Monday as investors sought shelter from the Ukraine crisis.
Pradeep shukla
pgdm
London (AFP) - China's annual
demand for gold could jump around 20 percent by 2017 as more of its
increasingly wealthy population seek new ways to make money, the World
Gold Council predicted on Tuesday.
The forecast by the WGC comes after China became the world's largest gold-consuming nation in 2013, overtaking India.
Annual
demand for gold in the form of jewellery, coins and bars is set to hit
"at least 1,350 tonnes by 2017", the WGC said in a report on China.
That would represent a rise of nearly a fifth from the country's record consumption of 1,132 tonnes last year.
"The
traditional appeal of gold to the Chinese people and consumers'
optimistic outlook for prices should result in private sector demand
from all sources climbing to at least 1,350 tonnes by 2017," the
London-based council said.
Gold
prices slumped by a nearly a third last year as investors abandoned the
perceived safe haven investment in favour of stocks and other riskier
bets.
But global demand for gold
in jewellery grew to its highest for 16 years as consumers in Asia and
the Middle East scrambled to take advantage of the lower prices.
In
China, rising demand for the yellow metal has also been driven by the
growth of its increasingly-wealthy middle class, high levels of savings
and restrictions on other investments.
Still,
the council warned that a possible slowdown in the world's
second-largest economy as it moves away from rapid export-led growth
could dampen gold demand.
"China
faces important challenges in moving from an investment and export-led
growth model to a more balanced one in which private consumption plays a
larger part," said the body.
"Although
the risks associated with this economic transformation should not be
underestimated, on balance this process should result in a considerably
higher level of consumer spending, which ought to favour the jewellery
sector."
One of the report's authors, Alistair Hewitt, noted that Chinese gold demand had tripled in the decade to 2013.
And
he predicted that the Chinese gold market would continue to develop
over the course of the next few years, driven by cultural affinity, the
increase in income and government support.
"There
is a huge groundswell of people becoming wealthier, that have more
money to spend on jewellery and more savings to invest," he told AFP.
"For
many people, gold is the preferred form for savings amid volatile stock
markets, overvalued property and low interest rates being offered by
banks."
Gold jumped to a two-and-a-half-week peak at $1,330.59 an ounce on Monday as investors sought shelter from the Ukraine crisis.
London (AFP) - China's annual
demand for gold could jump around 20 percent by 2017 as more of its
increasingly wealthy population seek new ways to make money, the World
Gold Council predicted on Tuesday.
The forecast by the WGC comes after China became the world's largest gold-consuming nation in 2013, overtaking India.
Annual
demand for gold in the form of jewellery, coins and bars is set to hit
"at least 1,350 tonnes by 2017", the WGC said in a report on China.
That would represent a rise of nearly a fifth from the country's record consumption of 1,132 tonnes last year.
"The
traditional appeal of gold to the Chinese people and consumers'
optimistic outlook for prices should result in private sector demand
from all sources climbing to at least 1,350 tonnes by 2017," the
London-based council said.
Gold
prices slumped by a nearly a third last year as investors abandoned the
perceived safe haven investment in favour of stocks and other riskier
bets.
But global demand for gold
in jewellery grew to its highest for 16 years as consumers in Asia and
the Middle East scrambled to take advantage of the lower prices.
In
China, rising demand for the yellow metal has also been driven by the
growth of its increasingly-wealthy middle class, high levels of savings
and restrictions on other investments.
Still,
the council warned that a possible slowdown in the world's
second-largest economy as it moves away from rapid export-led growth
could dampen gold demand.
"China
faces important challenges in moving from an investment and export-led
growth model to a more balanced one in which private consumption plays a
larger part," said the body.
"Although
the risks associated with this economic transformation should not be
underestimated, on balance this process should result in a considerably
higher level of consumer spending, which ought to favour the jewellery
sector."
One of the report's authors, Alistair Hewitt, noted that Chinese gold demand had tripled in the decade to 2013.
And
he predicted that the Chinese gold market would continue to develop
over the course of the next few years, driven by cultural affinity, the
increase in income and government support.
"There
is a huge groundswell of people becoming wealthier, that have more
money to spend on jewellery and more savings to invest," he told AFP.
"For
many people, gold is the preferred form for savings amid volatile stock
markets, overvalued property and low interest rates being offered by
banks."
Gold jumped to a two-and-a-half-week peak at $1,330.59 an ounce on Monday as investors sought shelter from the Ukraine crisis.
London (AFP) - China's annual
demand for gold could jump around 20 percent by 2017 as more of its
increasingly wealthy population seek new ways to make money, the World
Gold Council predicted on Tuesday.
The forecast by the WGC comes after China became the world's largest gold-consuming nation in 2013, overtaking India.
Annual
demand for gold in the form of jewellery, coins and bars is set to hit
"at least 1,350 tonnes by 2017", the WGC said in a report on China.
That would represent a rise of nearly a fifth from the country's record consumption of 1,132 tonnes last year.
"The
traditional appeal of gold to the Chinese people and consumers'
optimistic outlook for prices should result in private sector demand
from all sources climbing to at least 1,350 tonnes by 2017," the
London-based council said.
Gold
prices slumped by a nearly a third last year as investors abandoned the
perceived safe haven investment in favour of stocks and other riskier
bets.
But global demand for gold
in jewellery grew to its highest for 16 years as consumers in Asia and
the Middle East scrambled to take advantage of the lower prices.
In
China, rising demand for the yellow metal has also been driven by the
growth of its increasingly-wealthy middle class, high levels of savings
and restrictions on other investments.
Still,
the council warned that a possible slowdown in the world's
second-largest economy as it moves away from rapid export-led growth
could dampen gold demand.
"China
faces important challenges in moving from an investment and export-led
growth model to a more balanced one in which private consumption plays a
larger part," said the body.
"Although
the risks associated with this economic transformation should not be
underestimated, on balance this process should result in a considerably
higher level of consumer spending, which ought to favour the jewellery
sector."
One of the report's authors, Alistair Hewitt, noted that Chinese gold demand had tripled in the decade to 2013.
And
he predicted that the Chinese gold market would continue to develop
over the course of the next few years, driven by cultural affinity, the
increase in income and government support.
"There
is a huge groundswell of people becoming wealthier, that have more
money to spend on jewellery and more savings to invest," he told AFP.
"For
many people, gold is the preferred form for savings amid volatile stock
markets, overvalued property and low interest rates being offered by
banks."
Gold jumped to a two-and-a-half-week peak at $1,330.59 an ounce on Monday as investors sought shelter from the Ukraine crisis.
Changing demographics fuelling demand for 'home' healthcare; lack of medical care in smaller towns responsible
Changing demographics fuelling demand for 'home' healthcare; lack of medical care in smaller towns responsible
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http://economictimes.indiatimes.com/articleshow/33755782.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Changing demographics fuelling demand for 'home' healthcare; lack of medical care in smaller towns responsible
Changing demographics fuelling demand for 'home' healthcare; lack of medical care in smaller towns responsible
Changing demographics fuelling demand for 'home' healthcare; lack of medical care in smaller towns responsible
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