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China’s Gold Demand Remains Robust After Lunar New Year Holiday
Sunday, February 9, 2014 5:02
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by M. Rochan, IB Times:
China returned to the physical gold markets strongly on 7 February, after a week-long break, as banks and retailers moved to replenish stock following solid sales during the Lunar New Year holiday.
The Chinese New Year, celebrated on 31 January, usually triggers a surge in bullion purchases as the period is considered auspicious.
7 February’s increase in premiums and trading volumes on the Shanghai Gold Exchange, a physical platform, indicated that jewellery and bullion sales during the new year holiday period were robust in the world’s biggest gold consumer.
