Gold price fall and market panic sparks bullion ‘buying spree’ in China

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China's historic devaluation of the yuan this summer fuelled a gold bar and coin "buying spree" Photo: EPA
China’s historic devaluation of the yuan this summer fuelled a gold bar and coin “buying spree” Photo: EPA

 

China’s historic devaluation of the yuan this summer fuelled a gold bar and coin “buying spree” in the country as investors sought to shelter themselves from further market volatility, according to the World Gold Council.

Lower gold prices pushed up overall gold demand by 8pc in the third quarter to 1,120.9 tonnes compared with a year earlier, following an early sell-off by Western investors anticipating a US interest rate rise.

This represents the strongest demand since the second quarter of 2013.Read More (UK Telegraph)

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