USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Finance

Gold import picks up despite price decline: expert

Xinhua | Updated: 2013-07-08 10:30

DUBAI - Although the price of gold declined further at the start of July, gold imports from China and India and central bank purchases have been picking up, said Gerhard Schubert, the head of precious metals at bank Emirates NBD.

Gold closed on Friday down by $11 week on week at $1, 224 per troy ounce. "The gold price has, again, finished the week on a bearish footing," said Schubert in his weekly assessment of global markets.

"Gold reacted to better unemployment numbers and strengthening US economic data." However, "Chinese gold imports are still very much on record pace and fresh purchases from India are also documented," added Schubert who did not elaborate whether he expected the fall of the price of the yellow metal to be halted or not.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US