CHINESE GOLD DEMAND: Twice As Much As Official Reported Figures

Jon Gold, Market Commentary, Precious Metals

For some strange reason, the Western official gold demand figures for China are WAY OFF. According to a recent article by Koos Jansen at Bullionstar.com, the Chinese Gold Association reported much higher gold demand than the figures published by the World Gold Council.
In the article, China Gold Association: 2013 Gold Demand Was 2,199t, wholesale gold demand in China was 2,199 metric tons (mt) in 2013 compared to the 1,066 mt reported by the World Gold Council.

This is not a small disparity in reported gold demand by these two organizations, but a huge 1,133 mt difference. Surprisingly, the difference between the two is actually greater than total Chinese gold demand stated by the World Gold Council.
Koos Jansen explains this in the article by writing the following:

This post was published at SRSrocco Report on October 29, 2014.