Why is China turning its back to gold jewellery? Chris Wood explains

Quick Summary:

In dollar terms, gold prices hit $2,331/oz at the end of H1-CY24, according to WGC data, rising 12.

Gold price today India, China: China, one of Asia’s biggest consumer of gold besides India, seems to be turning its back to the yellow metal, suggests Christopher Wood, global head of equity strategy at Jefferies.

China gold imports plunged 58 per cent MoM and 40 per cent YoY to 58.9 tonnes in June, the lowest level since May 2022.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaHong KongMacau

Topics: Gold Gold demand global Markets WGC Gold demand India Gold price July World Gold Council Gold price today Gold demand china Mainland China Jefferies Gold price 2024 Chris Wood Gold price in India

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Article Type: News Report

Published On: 2024-07-29 @ 09:56:17 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 677 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21817438

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