Asian Jewellery Demand Swells on Drop in Gold Prices

Mining Weekly reported that the recent weakness in gold prices has kicked up consumer jewellery buying in Asia sharply.

As quoted in the market report:

Bargain hunting lifted premiums in Hong Kong to $2/oz to the spot London prices from $1.60 to $1.70 last week as shops in the former British colony saw a rush in purchases of jewellery and gold nuggets. Hong Kong, the centre for bullion trading in East Asia, is also China’s main source for gold imports.

To view the whole Mining Weekly report, click here.