China is World's Top Gold Bug (wsj)

[dualstow]

"I think people will be surprised by the strength in the Chinese demand, but we think this is a trend that is set to continue," said Eily Ong, an investment research manager at the gold council.

Historically, India has been the largest investment market for gold. In 2007, just before investing in gold began to take off globally, India's physical gold demand accounted for 61% of the world's total. China's was 9%. In terms of total consumer demand, which also included jewelry, India is still a bigger consumer of gold than China, taking in 291.8 tons in the first quarter, compared with China's 233.8 tons.

article here | { http://online.wsj.com/article/SB1000142 ... 36072.html }

[goldfinger]

Most of the gold China consumed are domestically mined.