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China’s gold market in July: gold reserves rise for the ninth consecutive month, wholesale demand tepid
Fully realising the challenges facing the local economy, policymakers released measures to stimulate domestic consumption in late July.1 And authorities are also planning accommodative policies for the real estate market.2 These efforts could improve China’s economic revival and potentially benefit gold consumption. • Seasonality and the elevated gold price are likely to continue to weigh on local wholesale gold demand in the short-term. But September may see a round in demand amid various jewellery industry events and more active replenishment for the National Day Holiday, also the traditional wedding peak ... (full story)