who's got gold?https://www.bloomberg.com/news/2011-03-23/china-may-match-india-as-world-s-biggest-gold-consumer-on-amazing-demand-.html
Chinese consumption of gold mayclimb to rival that of India, the top user, as investors buy themetal as a store of value, said GFMS Ltd. and INTL FCStone.
Demand in China, the world’s second-biggest economy, almosttripled to 580 metric tons last year from 206 tons in 2001, datafrom the producer-funded World Gold Council show. Use in Indiamay slump 5 percent to 26 percent this year from 963 tons in2010, Morgan Stanley said in a report yesterday.
Bullion soared to a record $1,444.95 an ounce on March 7and rallied 30 percent last year for a 10th annual gain asinvestors sought to preserve their wealth against inflation,Middle East unrest and currency debasement. Consumer prices inChina climbed 4.9 percent in February from a year ago, exceedingthe government’s 4 percent goal for the full year.
“The level of interest in gold as an asset class is justamazing,” Jeffrey Rhodes, global head of precious metals withINTL FCStone in Dubai, said in an interview. “There ispotential for China to catch up to India.”