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Asia Gold: China markets buzz as buyers seek cover from Evergrande risks

From financialpost.com

Physical gold demand in top consumer China rose this week as buyers sought cover from the potential fallout of the Evergrande crisis coupled with factors including a seasonal pick-up in activity. In China, premiums rose to $7-$12 per ounce over global benchmark prices, from $5-$9 last week. “The Evergrande debacle has caused investors to move into gold and shift gear to capital preservation,” said Bernard Sin, regional director, Greater China at MKS, adding Chinese imports could “increase drastically this month.” Concerns over a collapse of the property developer have driven a rebound in benchmark spot rates “People ... (full story)

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