13 November 2023
Amid geopolitical tensions and high prices, Asia’s demand for gold remains robust, especially in the festival and wedding season. Despite reaching over US$2,000 an ounce, demand is fueled by cultural significance in countries like India and China. Consumers buy smaller amounts due to the high cost, but the appetite for gold persists, with expectations of further price increases due to global economic uncertainties. In Hong Kong, demand is also strong, influenced by the upcoming Lunar New Year and interest from mainland China and Taiwan.