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World Gold consumption may grow by 1.3% in 2020: report
World gold consumption is forecast to grow by 1.3% in 2020 and by 3.1% in 2021, reaching 4,760 tonnes in 2021, Australia’s Department of Industry, Innovation and Science said in its Resources and Energy Quarterly report. Growth is expected to be driven by retail investment, jewellery demand and central bank gold buying, the report said. Retail investment is expected to drive up global gold demand. Retail investment is forecast to rise by 20% in 2020, and by a further 3.0% (to 1,196 tonnes) in 2021. This strong growth in retail investment reflects political uncertainty in the US - impeachment proceedings against the ... (full story)