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Demand for gold in China is expected to weaken in the first quarter of 2020 as the country’s consumption-led economy grapples with the novel coronavirus outbreak, the World Gold Council (WGC) said.
The virus, which first struck in Wuhan, has so far infected more than 70,000 mostly in China, with the death toll exceeding 2,000.
Juan Carlos Artigas, investment research director at WGC, commented, “How it plays out is yet to be determined but, in our view, it is all but certain that China’s consumer demand will ease. Q1 demand may contract by at least 10 per cent to 15 per cent...
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