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Chinese gold jewellery demand sees first quarterly drop in 8 years
By A. Ananthalakshmi and Jan Harvey
Thursday, July 31, 2014
Chinese gold jewellery demand fell for the first time in eight years in the second quarter and could drop as much as 20 percent in the full year, a leading precious metals consultancy said.
A slide in Chinese demand will take away a key supporting factor for gold prices, already pressured by an improving global economy and U.S. stimulus withdrawal.
Many Chinese jewellery makers saw a 40-60 percent drop in gold fabrication in the second quarter, Sara Zhao, a GFMS analyst at Thomson Reuters, told the Reuters Global Gold Forum on Thursday. ...
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