gold news China's consumption of gold declined in 2020 for the first time in 3 years

gold news China's consumption of gold declined in 2020 for the first time in 3 years

gold news China's consumption of gold declined in 2020 for the first time in 3 years

gold news Buying with higher prices and a slowing economy in the world's largest gold market

The federation said in a statement posted on its website that China consumed 1002.8 tons of gold in 2019, a decrease of 12.9% on an annual basisgold news He added that the decline was due to the continuing pressure on the Chinese economy and the high price of gold in the second half of last year

Data on January 17 showed that China's economic growth slowed to its weakest pace in nearly 30 years in 2019 in light of the trade war that was raging with the United States

gold news prices are currently $ 1555 an ounce, and this month it reached its highest level in nearly 7 years, reaching $ 1610.90

The union said that the high prices "pushed gold investors to adopt a 'wait to see what happens' situation, as gold bars sales fell sharply to major companies and commercial banks