China to Consume 40% of Global Gold Production
Source: Resource Investor (6/4/09)
". . .physical demand for gold has been going through the roof."
These countries, which combined to produce two thirds of the global gold through the 1980s, now produce less than half of the gold mined today. In 2006, South Africa, the world's largest producer of gold, hit its lowest production level of gold in 84 years.
Meanwhile, physical demand for gold has been going through the roof. Much of the recent explosion in demand can be attributed to retail investors in India, China and other parts of Asia where the appetite for gold as investments is soaring.
India, for example, is experiencing an 80% growth in gold investment following a loosening of trade and market restrictions.
And let's not forget China.