The World Gold Council, a gold industry group, predicts that China’s demand for gold for jewelry and investment could double by 2020, the Wall Street Journal reported. "Our analysis shows that if gold demand were to continue to increase so markedly, domestic supply would be unable to keep pace," said Eily Ong, investment research manager at the World Gold Council. China’s demand for gold in 2009 was 423 metric tons, but its domestic supply was only 314 tons. In the coming years, China’s market is expected to become even more dependent on gold imports – even as mining output has increased 84% in the past decade, China only has 4% of known global reserves.
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