Gold price fluctuating because of Western investors and speculators
This has resulted in jewellers and hoarders from China and India - the 2 largest global buyers of physical gold - cutting their purchases
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THE price of gold is fluctuating because of Western investors and speculators, and their actions have jewellers and hoarders from China and India - the 2 largest buyers of physical gold in the world - to cut their purchases.
Such has been the speculation in gold since Russia's invasion of Ukraine last month that hedge fund net holdings of gold futures and options on New York exchanges rose to 168,000 contracts equivalent to 16.8 million ounces at the beginning of March, according to the US Commodity Futures Trading Commission (CFTC).
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