Yesterday we mentioned how the World Gold Council was banging the drum on Chinese gold demand, even suggesting that China could exhaust its natural gold reserves in the ground in just six years.
Here’s a chart of Chinese domestic gold production (supply) vs. Chinese demand for gold, courtesy of China Daily. It shows how demand has outstripped domestic production for nearly two decades, and how gold demand has almost doubled over the last 10 years.
The World Gold Council believes that Chinese demand could double again over the next decade and that, in a rush to expand domestic production, thinks China fully deplete its known gold mining reserves.
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