Arab Today, arab today gold demand down 11 as chinese buying dips
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Gold demand down 11% as Chinese buying dips

Arab Today, arab today

Arab Today, arab today Gold demand down 11% as Chinese buying dips

Mumabai - AFP

Global demand for gold fell 11 percent in the third quarter on an annual basis, as buying in key market China dipped because of its slowing economy, the World Gold Council said Thursday. Worldwide demand fell year-on-year in the July-September period to 1,084.6 tonnes worth an estimated $57.6 billion as prices on average were 3.0 percent lower than the record levels seen a year earlier, the WGC\'s latest report said. Reduced demand for gold from jewellery, investments and technology sectors offset a rise in buying from global central banks amid economic uncertainty. Buying in China fell 8.0 percent year-on-year to 176.8 tonnes due to the \"slowing of its economy which had a negative impact on consumer sentiment\", the report said. But Marcus Grubb, managing director in investment at the WGC, said that gold would continue to be bought to preserve capital, amid \"a backdrop of continued global economic uncertainty\". India, the world\'s largest consumer and importer of the precious metal, saw a slight improvement in demand in the quarter, the council said, with consumption of 223.1 tonnes, up 9.0 percent from a year earlier. India and China, which have both been battling high inflation, together account for about half of the world\'s gold demand, and China is forecast to overtake India as the market leader by the end of the year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold demand down 11 as chinese buying dips Arab Today, arab today gold demand down 11 as chinese buying dips

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold demand down 11 as chinese buying dips Arab Today, arab today gold demand down 11 as chinese buying dips

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday