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China’s long tradition of gold buying means the retail business in the country is likely to remain healthy for years to come. The value of gold in Chinese culture and the country’s powerhouse economy combine to maintain a robust gold market in many regions. But even China’s market is subject to peaks and troughs and 2014 seems to be proving to be one of the dips in the cycle.
Philip Klapwijk, managing director at Hong Kong-based consultancy and advisory firm, Precious Metals Insights, says the jewellery market in the first quarter was up 10% in China, whereas bar and coin demand generally was down 55%.
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