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GOLD: Gold demand fell at the end of 2019, but prices set to march higher - GFMS
- Global demand for gold fell in the last three months of last year as sales of
gold jewellery, bars and coins declined alongside purchases by central banks and
financial investors, an industry report said on Thursday. Central banks and
investors had bought large amounts of gold earlier in the year, helping push
gold prices in 2019 to the highest level since 2013. Gold is often seen by
investors as a safe investment during times of political and economic
uncertainty and becomes more popular when interest rates fall, as they did last
year. Higher prices, however, caused some buyers - particularly retail consumers
in top markets China and India - to reduce their purchases, the Refinitiv GFMS
Gold Survey said.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |