China Sells 90 Tons of Gold; This will impact prices in India 

Rising gold purchases by Chinese investors are pushing global demand, likely driving up prices in India and potentially impacting gold sales during weddings and festivals.

A new wave of speculation has swept the gold market,sparking interest in future price trends. Recent fluctuations and international developments have significantly impacted the market. 

Gold in China has transitioned from a mere jewellery item to a strategic investment vehicle. As consumer interest in jewellery wanes, record investments are being made in alternatives such as ETFs, bars, and coins. Central bank purchases continue to bolster gold’s status as a strong investment option.

China’s central bank People’s Bank of China purchased gold for the eighth consecutive month, adding 19 tonnes in the first half of the year. China’s gold reserves now stand at 2,299 tonnes. Although gold futures trading slowed slightly in June, the average daily volume in the first half of the year was 534 tonnes, the highest on record.