New trade initiatives to spur gold demand

Gold demand is expected to rise in China and other Asian countries along the "Belt and Road" routes in the coming few years, the China Gold Association said on Tuesday.

In a report on the likely impact on the gold market, officials estimated that the 65 countries along the routes, and their combined 4.4 billion population, currently account for more than half of the world gold production, and 80 percent of consumption.

"Asians have a tradition of collecting gold," said Song Yuqin, deputy general manager of the Shanghai Gold Exchange.