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The global gold market has increased as the world is led by a gap in import volumes. In India and Kn, imports fell since the beginning of this year.
According to Capital Economics analysis, global demand for gold jewelery fell in 2020 as imports from the world’s largest gold market fell dramatically. One of the experts emphasized that gold will continue to function as a safe haven in the current turbulent market period, that is, the short-term price of fm is not in jeopardy.
The analysis highlighted that in the first two days of 2020, gold imports fell by 50 strands in kidney terms. And physical gold sales have crumbled in countries as critical to the global market as Kna and India.
In addition, Capital Economics’ commodity market economy does not anticipate that there will be significant fluctuations in demand for gold jewelry in the coming period. Alexander Kozul-Wright emphasized that gold could remain high relative to Knai Jan’s strength, and that consumer activity could become depressed for some time as the country began to recover from the economic shock caused by the coronary virus.
This means that Knai’s gold imports will start to rebound in the second half of this year, but only if economic growth gains momentum and households start consuming it again.
In the case of India, it appears that the country’s gold imports fell by 73 in March to the level of the previous month. Indian inflation appears to have fueled the increasingly fragile Indian market. In addition, the government announced a three-week quarantine in the country on March 24 due to the threat. Consequently, imports in April may be weaker than in March, added Kozul-Wright.
However, in addition to the fact that the gold jewelery market may perform very poorly in 2020, gold investment prices may be driven by the noble. According to the expert, a significant reduction can only occur if coronary artery disease is successfully suppressed worldwide. Capital Economics estimates that gold could be $ 1,600 without ruining this year. During Central European time, the nobleman spent $ 1,761 on Tuesday.
Gold rose to the top after a week after the United States Federal Reserve announced a $ 2.3 billion package to support small and medium-sized businesses.
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