China’s gold consumption rose 41% last year to exceed 1,000 tonnes for the first time according to information released on the China Gold Association website. In total, China consumed 1,176.40 tonnes in 2013 with bullion demand increasing by 43% to 716.50 tonnes and jewellery demand climbing 57% to 375.73 tonnes.

China’s gold consumption figures do not included demand from China’s Central Bank whose reserves stand at 33.89 million ounces.