CHINA: HIGH UNEMPLOYMENT AMID AN UNCERTAIN ECONOMIC OUTLOOK COULD WEIGH FURTHER ON GOLD DEMAND

24 Jun 2023, 20:38 · Views 61

Gold prices have been underpinned by strong physical demand in China. Strategists at ANZ Bank analyze China Gold demand.

PBoC has added to its Gold reserves for seven straight months

The PBoC has added to its Gold reserves for seven straight months. The removal of COVID-19 restrictions also saw consumer demand surge higher. However, there are signs that growth is starting to slow down. Growth in retail sales of Gold/Silver jewellery fell to 24% YoY in May from 44% and 37% in March and April respectively.

High unemployment amid an uncertain economic outlook could weigh further on demand.

면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.

이 글이 마음에 드시나요? 작성자에게 팁을 보내 감사의 마음을 전하세요.

CHINA: HIGH UNEMPLOYMENT AMID AN UNCERTAIN ECONOMIC OUTLOOK COULD WEIGH FURTHER ON GOLD DEMAND – ANZ