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10

China's Gold Demand Increased, Helping Gold Prices Rise

China's gold demand increased 26 per cent year-on-year to 326.1 tonnes

China's gold demand increased 26 per cent year-on-year to 326.1 tonnes, boosted by booming jewellery consumption, the World Gold Council said on Tuesday.

Chinese jewellery demand reached 302.2 tonnes in 2007, making China the world's second-largest retail jewellery market after India.

Booming Chinese demand for the precious metal helped to boost its price in London to a record high of $936.50 an ounce in early February.