Demand for gold in Asia surges in Q1

London

A SURGE in first-quarter demand of gold in Asia has helped counter large-scale investment and speculative sales of the precious metal, although the current price of US$1,780 an ounce is still 14 per cent below the all-time peak of US$2,070 in August last year.

The latest Gold Demand Trends report by the World Gold Council (WGC), a market development body for the gold industry, found that the relaxation of lockdowns in China, South Korea and other parts of of Asia, combined with a lower gold price, have boosted jewellery and coin demand.