Retail gold consumption declines in India and China

The world’s largest and second-largest retail gold buyers, China and India, respectively, are delaying purchases of jewellery.

In 2022, 48% of the total global retail demand came from China and India . In 2022, China accounted for approximately 27% of the world’s demand for gold jewellery.

Retail buyers are not buying jewellery due to the low gold prices, which are a result of safe-haven investors seeking refuge from recession fears and banking troubles in the US and Europe.

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