Chinese investors have been buying gold as an investment, motivated by the poor performance of traditional stock and property options. According to World Gold Council (WGC) reports, China had the largest demand for gold for jewelry and investment purposes in 2023. This, and the demand from central banks has maintained gold prices over $2,000.
Chinese Investors Flock to Gold
Chinese investors are returning to gold amid one of the worst national stock market routs in the last five years. The nation registered the largest demand for gold for investment and jewelry in 2023, according to the World Gold Council (WGC), helping prices maintain over $2,000 per ounce.
Demand for gold in China for investment purposes rose by over 25%, reaching 280 tonnes last year. In the same way, China required 630 tonnes of gold for jewelry in 2023, 10% more than in 2022.
Experts asserted that, while understated, China’s market behavior was relevant for gold last year. Louise Street, senior markets analyst a
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