Reported 6 days ago
The ongoing surge in gold prices, reaching a record of $2,685.42 per ounce, has significantly dampened physical demand in major markets. Retail consumers are selling off their holdings to lock in profits amidst rising costs, leading to a remarkable decline in demand, particularly in India, Europe, and China. Analysts note that while some online marketplaces are seeing increased purchases, overall interest in gold, both physical and ETF, remains subdued.
Source: YAHOO