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Gold Jewelry Demand May Drop Through 2022: World Gold Council
- Markets in China and India face downside risk from slow growth
- WGC lowers expectations for overall investment demand
Jewelry demand has been weaker after 2021, driven by lockdowns in China and the strengthening dollar, which makes gold bought in local currencies more expensive.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Demand for gold jewelry may slip due to weaker economic growth in the biggest markets, according to the World Gold Council.
A combination of China’s strict Covid Zero policy and struggling real-estate sector likely will cause a slow recovery in demand there, the WGC wrote in its quarterly report. India, another top consumer, also may see lower buying due to the falling rupee and a higher import duty.