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Global demand for gold jewellery plummeted in the first quarter of 2022 on high gold prices and extended Covid-19 woes, erasing steady gains recorded throughout 2021.
In its latest report, Gold Demand Trends Q1 2022, the World Gold Council (WGC) said worldwide gold jewellery demand was down 7 per cent to 474 tonnes during the first three months of 2022 compared to the same period in 2021.
High gold prices were partly to blame but market weakness in major markets China and India also contributed to lacklustre demand. The two countries together tend to generate between 55 per cent to 60 per...
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