China’s gold market cools in May, consumer demand likely to remain weak – World Gold Council | Metals Mine

  • China’s gold market cools in May, consumer demand likely to remain weak – World Gold Council

    From kitco.com

    China’s gold market took a bit of a breather in May, with prices dropping and ETFs seeing the first outflows in months, and while the central bank continued its string of recent purchases, the latest data point to sustained weakness in consumer demand, according to Ray Jia, Research Head, China at the World Gold Council (WGC). “Gold prices fell mildly in May,” Jia noted. “Cooling gold investment momentum – as investors sold gold ETFs and gold’s implied volatility fell – overshadowed the lagging impact of a weaker dollar, leading to the gold price weakness.” chart The weaker monthly performance ended ... (full story)

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