Gold surge, Covid-19 lockdowns put pressure on Asian jewellery industries
Traditionally, India and China have been big buyers of the metal, but after start of bull phase in mid-2019, more Western investors are buying
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London
THE surge in gold prices and Covid-19 lockdowns are placing the Indian, Hong Kong and other Asian jewellery industries under acute pressure.
In contrast, leading gold companies that have managed to maintain production, are coining the precious metal. Their overall costs of around US$1,000 an ounce are way below the current market levels of US$1,800 an ounce.
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