The Chinese are buying gold extensively during the year 2021 after the demand for it declined during the year 2020 due to the Corona pandemic.
According to Arabiya Net, their purchase levels have returned to what they were before the Corona pandemic, amid the stability of gold prices, and the country's effective control of the Corona epidemic.
Today, Tuesday, the World Gold Council data showed that the demand for goldsmiths rose in the first half of 2021 in China to 338 tons, an increase of 122% compared to In the same period in 2020.
These levels show that the demand for gold has returned to pre-Corona levels, as this quantity is approximately equivalent to the average purchases during the period from 2010 to 2019.
During the epidemic year, Chinese demand for gold fell sharply by more than 95% in the first quarter of 2020.
Chinese citizens are not the only ones who store gold and prefer to acquire it, as the state authorities have gold reserves amounting to 14,727 tons until the end of last year, and the state's gold reserves reached It reached its highest levels in the third quarter of 2019 and at that time reached 1948.31 tons.
The data show that the youngest age group, which ranges between 18 and 24 years, is the most attracted to gold during the first six months of this year, and they represented about 59% of the total purchases The gold works during that period
