China Gold Demand Drops 18% in 1Q on Fewer Bar Sales
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China’s gold demand fell 18 percent in the first quarter as investors in the world’s biggest user bought fewer bars and coins, offsetting record interest in jewelry, the World Gold Council said.
Purchases declined to 263.2 metric tons in the three months through March from a year earlier, the London-based council said in a report today. While jewelry consumption rose 10 percent, demand for bars and coins sank 55 percent, accounting for about 40 percent of the global decrease.