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IPFS News Link • Gold and Silver

China’s Gold demand to outstrip supply by 2015 by 550 metric tons

China has a ferocious appetite for Gold now. In 2012, Hong Kong shipped 94% more gold to the mainland than they did in 2011. They are buying all the gold they can get and China’s gold councils have projected by 2015, China’s demand will outstrip their supply by 550 metric tons. There are approximately 2471 tons of gold mined annually around the world. China mines approximately 403 tons of that. That means within 2 years time China will be buying almost half the gold mined.