China's Impact on Gold Prices in 2014
![](https://www.bullionvault.com/gold-news/sites/default/files/china-gdp-gold-demand-cny-yuan-1997-2013.png)
- China's GDP has grown four-fold over the last decade; private gold demand by value has risen 15 times;
- On top of being the world's No.1 gold mining nation, China almost doubled its net imports in 2013 to more than 1,000 tonnes;
- That's five times the weight the country consumed as a whole in 2002, and pretty much matched the outflow of metal from Western gold funds and private accounts.