Gold demand shifts from west to east

Source: Bloomberg
Gold demand in India, the Middle East and China increased on an annual basis in September with the Chinese demand rising 30% compared to a decline in demand on the European continent signaling a shift in global gold market from west to east. Bullion for delivery in November traded at $1,284.29 an ounce as of 11:30 Singapore time and it has dropped 23% this year.

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