Demand Decline of Gold
This year, along with the continued appreciation of the U.S. dollar, gold prices fell again and again, last Friday (February 5) International Spot gold fell to 1044.20 U.S. dollars / ounce (November 3 last year, the lowest since points). Furthermore, from the charts of view, spot gold used on pandora jewelry closed lower for the third consecutive 4-week, performance is very weak. Contrast, the price of gold fell hand, contributed to the selling of gold.
According to the domestic media reported last week, with the Spring Festival approaching, the domestic gold market has entered a hot phase. Late spring of this year over last year, but many are enthusiastic about Kim Min-purchase payments. To industry sources, last year's gold bull market so that more people are concerned about the added value of gold hedging function, which is the main reason for selling gold products. According to dealers introduction, Year of the Tiger theme gold sales are very good, while small-gram gold bars, gold bars weight than larger more popular, this may be due to the recent volatile price of gold applied to some hot stuff like pandora bracelets, people expect a further decline in gold, so the first small purchase. It is reported that the former World Trade Plaza, a day weekend (January 30th week) of gold jewelry sales rose 124% over last year, in January the sale of gold bars Decoration category increased 7-8 times than usual. 20-50 g 50-100 g of small gold bars bars is particularly welcome, while 500 grams of large gold bars are not lacking is interested. As of last Friday's close, the domestic price of gold the 235 Yuan / g in the vicinity. Last year, in December, the domestic gold price was once close to 270 Yuan / gram.
Although the situation of China and India in gold trading is very gratifying, it is still far from enjoying the "Golden City" reputation of the Dubai gold sales with some downturn. According to overseas media Monday (February 8) reported that Dubai's jewelry dealers say, to a substantial improvement in retail sales, gold had dropped to 950-980 U.S. dollars / ounce. Dhakan Jewellers in Dubai, called a jewelry shop Amit Dhakan said, "We want gold to fall 950-980 U.S. dollars, which is 110 dirham per gram of 22K gold, 24K per gram of 118 dirhams." While the Sun Dubai's retail price of 24K gold per gram of 126 dirhams, 22K per gram of 120 dirhams. Dhakan also said that Dubai jewelers sales growth of 5% -10%, "it only slightly." In January, Dubai Gold and Commodities Exchange (DGCX) of gold enjoy a turnover of 9.187 billion U.S. dollars which could be exchange via using pandora jewellery. Gold wholesalers say the recent demand has been declining. 1200 U.S. dollars last year, when gold broke, gold demand has increased significantly. Another jeweler Al MowajiJewellers of Sanjay Jain said, "In February than in January sales is good, but overall is still weak. Dhakan said the fall in gold prices did attract some consumers, but they also looked forward to further lower gold price Therefore, most of them in holding cash at hand waiting to see.
