Last Updated : November 23, 2011 22:03
'Chinese gold-jewelry industry likely to grow further'
LONDON (Commodity Online): Chinese gold-jewelry demand, now largest in the world, may increase further as the sector makes more effort to reach the rising middle classes outside of the largest urban centers, said HSBC in a snippet.
“The combination of growing wealth and the need for an inflation hedge is likely to boost Chinese consumers’ demand for gold, as well as the other precious metals, in our view,” HSBC added.
“As retail outlets for jewelry increase beyond large cities, bullion demand is likely to grow further, we believe. This trend would support precious-metals demand in the longer term, and it is the cornerstone of our long-term bullish outlook,” HSBC concluded.
NCDEX PEPPERMALABARGARBLEJUL12 20 July 2012
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