Demand for gold jewelry in China in the third quarter of 2011 increased 13% over the same period last year, and amounted to 131 tons. Thus, China has become the largest market for gold jewelry.
According to the World Gold Council, investment demand for gold bullion and coins rose last quarter by 24% – to 60.2 tons. The total demand for gold has increased by 16% in the country – up to 191.2 tonnes.
In January-September this year, global demand for gold increased by 6% – up to 1053 tons.
Gold prices are rising for the eleventh year in a row, as investors buy the precious metal as a means to preserve their savings amid falling stock markets, lower rates of national currencies and the threat of inflation.
According to analysts in Morgan Stanley, in 2012, global gold prices continue to rise as the debt crisis in the European region will continue to negatively put pressure on the financial markets.