London, Feb 19: China was the largest gold market within the world for the first time in 2013, according to a report.
The report discharged by the London-based World Gold Council (WGC) Tues aforesaid the demand for gold in China set a remarkable new record of 1,066 tonnes, an increase of 32 % year-on-year, according Xinhua.
The consumer-driving demand of gold was largely attributed to the sharp fall within the gold worth in the second quarter, it added.
Globally, the demand in 2013 declined 15 % to 3,756.1 tonnes compared to 2012, whereas jewellery demand saw the largest volume increase since 1997 to full year demand of 2,209 tonnes, up 17 % year-on-year.
The US tops the official gold holdings among countries with 8,133.5 tonnes, whereas China hierarchal 6th with 1,054.1 tonnes.
“We still see China in a long-term growth path and it’ll positively create a serious contribution to the market this year and over likely might still be the largest gold market within the world by the top of the year,” aforesaid Marcus Grubb, manager for Investment at the world Gold Council.
Based in London, the WGC is the market development organization for the gold trade.
