GFMS said at the release conference of its Chinese edition of Gold Survey 2005 that China had become the world's 4th largest gold consumer who consumed 235.1 tons of gold in 2004.

GFMS also forecast a remarkable upward trend of gold prices largely due to the weak dollar which would give incentives to invest in gold.

Gold Survey published by the UK-based GFMS has been the most prestigious annual analysis of gold market since 1968. Its 2005 Chinese edition was jointly released on July 12 in Beijing by GFMS, China National Gold Group Corporation and the World Gold Council.

By People's Daily Online