China's physical gold demand rose nearly 10% on year to 545.23 tn in Jan-Jun, media reports quoted the China Gold Association. Investors opted for the safe-haven asset on worries about fragile global financial markets and rising geopolitical uncertainties. Demand for gold bars in the world's largest gold consuming country surged 51% to 158.40 tn while jewellery consumption fell 0.3% to 330.77 tn in the first half of the year. China’s gold imports via Hong Kong, its main conduit, rose to 70.16 tn in June from 45.03 tn in May.
Source : Newswire
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