The rise in gold prices has become a deterrent for China, which is its main consumer, but January demand is held at a higher level than in December due to the approaching Chinese New Year, which will come this year on February 19, reports Reuters.
Last week, precious metal prices rose to $ 1,306 an ounce, the highest level in the last 5 months. According to traders, active gold imports continue, despite a slight decline in prices in recent days. Gold is widely purchased in China for gifts to the traditional holiday. 
Demand for jewelry rose significantly in January compared with December, said Thomson Reuters analyst GFMS Sara Zhao.
"Customers are once again becoming more active throughout China and ready to wait in long lines to get gold gifts for the Spring Festival," she commented on the preparations for the Chinese New Year.
Zhao also noted that a sharp decline in prices could significantly spur trade.
In December, sales of gold and jewelry in the PRC slowed to 7.3% compared with an increase of 11.5% in November and 16.6% in December 2013.