Chart of the week: China goes for gold

Chart of the week: China goes for gold

China is the world’s top gold producer and will soon be the largest consumer too. Chinese consumers, encouraged by last year’s price slide, snapped up 1,176 tonnes of the yellow metal, a 41% increase on 2012.

Demand for gold jewellery rose 43% to 716 tonnes, but it is also increasingly seen as an investment. Gold bar sales jumped by 57% to 375 tonnes. Demand for gold in China and other emerging markets has helped prop up prices.

• Stay up to date with MoneyWeek: Follow us on TwitterFacebook and Google+

MoneyWeek magazine

Latest issue:

Magazine cover
What George didn't tell you

The hidden flaws in Britain's economy

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues

27 March 1963: Beeching recommends cuts to Britain's railways

On this day in 1963, Dr Richard Beeching produced his infamous report that saw many railway lines closed in favour of bus services.