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Gold's plunge sparks retail demand in China, India
By Biman Mukherji, Alice Kantor, and Rhiannon Hoyle
The Wall Street Journal
Wednesday, July 22, 2015
HONG KONG -- Gold's plunge to five-year lows this week has prompted a swift rise in demand from jewelry retailers in China and India, the world's top consumers of gold, leading to a doubling of premiums paid on physical gold.
At the same time, sales of gold coins from Australia's biggest bullion mint have been rising sharply, likely thanks to some bargain hunting.
The increase in demand is expected to provide a cushion to the battering that gold has taken this week, although it may not be enough to offset the bearish outlook on the yellow metal amid growing expectations of a rise in U.S. interest rates and a lack of safe-haven demand. India, together with China, accounts for around half of the global demand. ...
... For the remainder of the report:
http://www.wsj.com/articles/golds-plunge-sparks-retail-demand-in-china-i...
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