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Can Gold Survive Without India, China Buying?
The fourth quarter will be critical for seasonal physical gold demand, with India gearing up for Diwali at the end of the month, a celebration where the metal is traditionally gifted. Then China, the world's largest consumer of the metal, prepares for the Lunar New Year, another key buying opportunity for gold. In the second quarter of 2016, India and China accounted for 44% of gold jewelry consumption globally. The two countries saw higher demand for gold jewelry than all of Europe, South America, Africa and North America combined. In India, analysts are expecting the subdued prices, the good monsoon season and the upcoming festivities to boost sales. Frank Holmes, chief executive officer for U.S. Global Investors, expects both celebrations to be price supportive, despite Asian demand having been sluggish so far this year. Holmes said gold investors should also pay attention to some key U.S. data out next week, which includes regional manufacturing data for October, housing sector numbers and the September Consumer Price Index report. (show less)
The fourth quarter will be critical for seasonal physical gold demand, with India gearing up for Diwali at the end of the month, a celebration where the metal is traditionally gifted. Then China, the world's largest consumer of the metal, prepares for the Lunar New Year, another key buying opportunity for gold. In the second quarter of 2016, India and China accounted for 44% of gold jewelry consumption globally. The two countries saw higher demand for gold jewelry ... (read more)
Gold Game Film
Gold Game Film features the founder of US Global Investors, Frank Holmes as he highlights play-by-play action in the gold market. Melding sports and precious metals, Holmes comments on gold’s touchdown pass of the week. Holmes also reflects on the opportunities and threats he sees for the gold market. Tune in every week to hear from our Monday Morning Quarterback, Frank Holmes.Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
