The 9th China Gold & Precious Metals Summit, jointly endorsed by the China Gold Association and the Shanghai Gold Exchange and organized by IGVision International Corporation, was held in Shanghai China during December 3-4, 2014.
Convening nearly 250 top professionals from all the spheres of gold industry and trading, the event highlighted metal prices, supply/demand picture, investor sentiment, mining strategy, monetary policy trends, Chinese and Indian physical gold demand, and global macroeconomic environment in the context of a lower price environment, muted physical gold buying out of Asia, a strengthening U.S. dollar and U.S. recovery etc.
According to the China Gold Association, Chinese gold output stood at 428 tonnes in 2013. The country's gold production in the first three quarters of 2014 has achieved a 15% year-on-year increase. The whole year's bullion import is estimated to reach 1,200 - 1,300 tonnes.
Meanwhile, president of the China Gold Association & general manager of China National Gold Group Corp. Song Xin said that China surpassed India as the biggest gold consumer and became the world's top producer, consumer, importer and fabricator of the precious metal. Since the beginning of 2014, China's jewellery demand for gold is still rising steadily.
This year's Summit also featured a 'Dubai Pavilion' set up by a group of exhibitors from DMCC and other Dubai gold industry delegates.
Theodor Lisovoy, Rough&Polished in Moscow
