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Chinese Gold Demand Charted Another Strong Month in April
Despite a rising price, Chinese gold demand remained robust in April. Strong investment demand more than made up for some weakness in the gold jewelry market. This continues a trend of gold moving from West to East. China ranks as the number one gold consumer in the world. The gold price was up about 5 percent in April in dollar terms. Gold charted a 3 percent gain based on the Shanghai Gold Benchmark. Year-to-date, gold is up about 14 percent in yuan terms. According to the World Gold Council, this is drawing continued attention from local investors. The Shanghai Gold Exchange reported 131 tons of gold withdrawn in ... (full story)