| Although the price of gold
declined further at the start of July, gold imports from China and India
and central bank purchases have been picking up, said Gerhard Schubert,
the head of precious metals at bank Emirates NBD.
Gold closed on Friday down by 11 U.S.
dollars week on week at 1, 224 dollars per troy ounce. "The gold
price has, again, finished the week on a bearish footing," said
Schubert in his weekly assessment of global markets.
"Gold reacted to better unemployment
numbers and strengthening US economic data." However, "Chinese
gold imports are still very much on record pace and fresh purchases from
India are also documented," added Schubert who did not elaborate
whether he expected the fall of the price of the yellow metal to be halted
or not.
Source from Xinhua News |
(To contact the reporter on this story: tangtt@steelhome.cn or 86-21-50585358) |
