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The market’s insatiable appetite for gold as a precious metal has led to sustained recovery in gold jewellery demand in 2021 after a tumultuous year of pandemic-related lockdowns and business disruptions, with buyers purchasing jewellery as gifts or investment products.
The World Gold Council (WGC), in a gold market commentary dated June 7, cited various reports indicating strong sales of gold jewellery and investment products in many cities in China, bolstered primarily by robust consumer demand during holidays and weddings.
A decline in gold prices coupled with expectations of further price upticks also boosted gold jewellery sales.
Gold prices hit US$1,881.50 per ounce...
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