Gold wealth management strong as market 'may double in 10 years'

Wealth management through gold investment could be set to rise, as one official today (November 3rd) claimed demand in China may double within the next ten years.

Wang Lixin, the World Gold Council’s Greater China general manager, suggested consumption will rise to 900 tons before 2020, stating: "It probably will be achieved earlier than that," Bloomberg reports.

Those engaged in wealth management could turn to the asset, as recent uncertainty regarding the global economic recovery led the precious metal to make record gains in October.

And the US Federal Reserve meeting - currently in its second day - is due to announce quantitative easing measures at 18:15 GMT, which, if they are greater than the widely expected $500 billion (£311 billion), are likely to send gold higher on the back of a sinking dollar.

Private wealth may be well invested in the metal, as it has appreciated 23 per cent this year, enjoying its longest period of price rises since at least 1920.  ADNFCR-2318-ID-800213791-ADNFCR