Asian central banks, consumers flock to gold amid currency weakness, macro uncertainty
Prices of the yellow metal have hit a record quarterly average of US$2,070 per ounce
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GOLD prices have hit new highs in recent months, but several countries are still on a gold-buying spree as demand for the precious yellow metal has soared despite higher prices.
The unprecedented rate of purchases by central banks, both regionally and globally, is set to continue amid macroeconomic uncertainty, market watchers said.
But with the additional burden of currency weakness plaguing countries in South-east Asia, the region could top the charts in terms of central bank purchases and consumer demand.
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