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Retail Demand For Gold Is Going Nuclear In Asia And Shops Can’t Keep It On Their Shelves

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Joe Weisenthal
Business Insider
April 23, 2013

The recent drop in gold has created a huge surge in Asian gold demand.

It’s happening in India, Hong Kong, and elsewhere.

From Josh Noble at FT:

Asia is witnessing one of the strongest waves of physical gold buying in 30 years, with bargain hunters using the drop in prices to secure jewelry and gold bars.

The feverish buying has left many of Hong Kong’s banks, jewelers and even its gold exchange without enough yellow metal to meet demand. In Shanghai, the gold exchange saw volumes – often seen as a proxy for demand – rising to a record on Monday, while queues formed outside some jewelery shops in Beijing.

Check out these Reuters photos of crazy gold demand in Hong Kong that’s causing shelves to go barren.

hong kong gold

Full article here

This article was posted: Tuesday, April 23, 2013 at 10:24 am

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