{Education} Article: Global gold demand

The World Gold Council said that global gold demand in 2013 should be led by strength in Chinese demand and a recovery in India.
Chinese gold demand is likely to grow around 10% in 2013 from about 800 tonnes this year, as the world's second-largest economy is expected to pick up pace, helping the precious metal continue its bull run into its 13th year.
Referring to a nearly 30% fall in Indian demand in the first half of this year (hurt by a slowing economy and record-high gold prices in local currency terms), it gave the positive projection for Indian gold sector and said that the demand should rebound after falling about 20-25 percent in 2012 to 750-800 tonnes.
It also cited other drivers for his projections for higher demand in 2013, including robust Western investment demand due to lingering global financial problems and purchases by central banks.
Global gold demand is likely to fall by around 5 to 7 percent in 2012 to around 4,100 tonnes, it added.
"Looking at data we have on imports into India and also premiums in Mumbai, demand's been very strong so far in Q4 in India, I think actually stronger than in China," it said, adding that gold purchases before the Lunar New Year will help boost China's demand in the fourth quarter.
Gold has been up around 10 percent so far this year at about $1,730 an ounce.