Demand for gold jewelry is crashing in China & India, consultant finds ...United Arab Emirates

Russia Today - Economy
Demand for gold jewelry is crashing in China & India, consultant finds
source : Russia Today ( United Arab Emirates ) () 79
Sharp contractions in gold imports by major consumers suggest gold jewelry demand is being battered, says investment research group Capital Economics, though It projects that safe-haven buying should ensure a near-term price rise. According to the group’s commodities economist Alexander Kozul-Wright, gold imports plunged 50 percent year-on-year in the first two months of 2020. Withdrawals from Shanghai’s gold exchange tanked 56 percent during the same period. Physical sales in critical global markets, China and India, have fallen off a cliff so far this year. Kozul-Wright says that he doesn’t expect to see a significant rebound in gold

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