WGC: Growth of middle class 'will support demand for gold'

Yuan internationalization likely to increase nation's need for the metal, experts say

Gold demand in China will grow steadily as the middle class expands and the yuan is further internationalized, which will require an increase in gold reserves, said trade officials on Thursday.

Although gold prices have been sliding since last year, the metal remains an attractive investment in China. Demand for gold jewelry and bars will provide a "cushion" for the price in the coming years, Aram Shishmanian, chief executive officer of the World Gold Council, told the China Gold Congress & Expo 2014 which opened on Wednesday in Beijing.