China’s gold-buying boom is slowing sharply as economic woes hit retail demand

MarketsInsider/Filip De Mott/6-20-2023

graphic image of giant golden dragon“Where sales of gold and silver jewelry rose rapidly in early 2023, they expanded only 24% year-on-year in May, the first sign of a slowdown this year.”

USAGOLD note: Expanded only 24%? Given the Chinese people’s historic attachment to gold, most analysts will see the slowing demand at present as a lull in the dominant trend.

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