7 d. ago Price surge weighs on gold, silver sales in India’s Diwali market

Record-high gold and silver prices fuelled by US-China friction have dented demand for the precious metal in key consumer market India, in the lead-up to the peak buying period for the Diwali festival. Gold was trading at US$4,197.5 per troy ounce on Wednesday afternoon, as a spike in US-China trade tensions fuelled investors’ demand for the asset, long seen as a safe-haven investment. The silver market has been gripped by a lack of liquidity, sparking a worldwide hunt for the metal. Prices hit...

Economics

1 week ago Gold fever hits Hong Kong as investors hedge against inflation amid record rally

Hongkongers are rushing to gold stores to buy and sell the precious metal, which has surged by nearly 50 per cent this year to record high prices. Analysts suggest that many investors are seeking a trusted asset to guard against currency devaluation amid global uncertainties. At Lee Cheong Gold Dealers in Sheung Wan on Friday, a steady stream of customers entered the store to trade gold and other precious metals. Many of them told the Post they wanted to diversify their asset portfolio and...

Economics

1 week ago ASIA GOLD Festive buying props up demand in India; China muted in post

ASIA GOLD Festive buying props up demand in India; China muted in post-holiday trade  Reuters

Politics

1 week ago China's Relentless Gold Buying Spree Signals 'Rising Uncertainty In The World,' Says Chamath Palihapitiya: 'Hedging Against Dollar Risk'

China's Relentless Gold Buying Spree Signals 'Rising Uncertainty In The World,' Says Chamath Palihapitiya: 'Hedging Against Dollar Risk'  Benzinga

Economics

2 w. ago China's central bank buys gold for 11th straight month in September

China's central bank buys gold for 11th straight month in September  KITCO

Economics

2 w. ago China’s gold fever: record prices spark excitement and FOMO – buy, sell or hold?

With gold prices dancing near a never-before-seen US$3,900 an ounce, Chinese investors and consumers are finding themselves caught up in a whirlwind of excitement and trepidation – frustrated by missed opportunities, wary of the record-high rally, and scrambling to decide whether to buy, sell or hold their glittering assets. After topping US$3,800 an ounce for the first time last week in a surprise surge that has continued this week, gold is keeping market participants on their toes. Yue, a...

Economics

2 w. ago Hong Kong, mainland China adapt to gold prices amid wedding jewellery demand

Since the beginning of the year, Kelvin Siu and his fiancée had waited for gold prices to decline before buying jewellery for their wedding. Last week, they finally pulled the trigger to purchase, as gold prices continued to climb to fresh highs. “We had no choice but to buy the gold dragon and phoenix bracelets and other jewellery last week because our wedding day is getting close,” said Siu, who has booked his wedding in December. Gold prices, which have surged more than 48 per cent this year...

Politics