China gold production at record in 2009 -- reports

China gold production at record in 2009 -- reports
28 January 2010, by Nick Godt (MarketWatch)
http://www.marketwatch.com/story/china-gold-production-at-record-in-2009-reports-2010-01-28

NEW YORK (MarketWatch) -- Chinese gold production topped 300 tons in 2009, a new record, making China the largest producer of the precious metal in the world for the third year in a row, according to media reports Thursday citing the China Gold Association.

The association said that gold production reached 313.98 tons last year.

Last month, consultancy group GFMS said China would surpass India this year as the world's largest consumer of gold, with total demand forecast at 432 tons.

March gold futures finished down 90 cents at $1,084.80 an ounce on Thursday.

The precious metal and many commodities have come under pressure recently on concerns that China's efforts to cool its growth would curb demand.

China gold production at record in 2009 -- reports 28 January 2010 (MarketWatch) http://tinyurl.com/ykn2v2z