Thu 2/16/12 3:03 PM – China is Largest Gold Market Now

China is now the largest gold market. Chinese demand for gold keeps growing as more people move up the economic ladder. Also, the Chinese New Year ushered in the Year of the Dragon, an especially auspicious thing in Chinese folklore and gift giving has been higher than before.

The Chinese are much more likely than Americans to see gold as a store of value, thus a legitimate investment alternative to stocks. Europeans are also buying more gold, as are central banks.