Asian Gold Demand Seen Surging by HSBC on Elevated Inflation
This article is for subscribers only.
Gold demand across Asia will keep expanding as inflation spurs investment purchases, said HSBC Holdings Plc, estimating that the region’s share of worldwide consumption jumped in the past decade.
Demand for jewelry, bars and coins in India, Greater China, Indonesia and Vietnam increased to about 60 percent of the global total compared with 35 percent in 2004, economists including Frederic Neumann wrote in a note today, citing data from the World Gold Council. Bullion is mostly used in the region as a store of value, Neumann wrote.