The World Gold Council (WGC) released its latest Gold Demand Trends report saying that during the third quarter of 2014 the total demand for gold from Greater China fell 37 percent to 194.1 tons, with mainland China at 182.7 tons.
Despite the sharp drop in Chinese demand in the third quarter, the WGC said comparing to 2012, Chinese demand was comparable versus the same period.
The report also mentioned that in China, consumer preferences were for 18-karat gold jewellery, rather than 24-karat, which may be the result of the government anti-corruption crackdown. Demand increased during the Golden Week holiday in October, and by the fourth quarter, demand is expected to rise because of stocking ahead of Chinese New Year.
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