fbpx

Type to search

Gold Jewellery Sales Up as Weddings Return to Hong Kong – SCMP

The rise in sales comes after two years of contraction


Gold
The price of gold has, however, dropped by about 5% this year. AFP file photo.

 

Gold jewellery sales surged by more than 30% this year in Hong Kong, with the return of weddings and other celebrations after Covid-19 receded and social distancing measures were relaxed, SCMP said, citing industry players.

The rise in sales comes after two years of contraction. Gold jewellery sales fell by 80% last year, as the pandemic disrupted countless weddings, which are key drivers of demand. In 2019, sales fell 40% amid the city’s social unrest, the report said.

 

Read the full report: SCMP.

 

 

ALSO READ:

 

Kyrgyzstan ‘Open to Settling’ Centerra Gold Mine Dispute

 

Bitcoin’s Price Surge Leaves Gold in the Dust – FT

 

Record Gold Price Driven by Investment Products

 

WATCH :

Kevin Hamlin

Kevin Hamlin is a financial journalist with more than 40 years of experience covering Asia. Before joining Asia Financial, Kevin worked for Bloomberg News, spending 12 years as Senior China Economy Reporter in Beijing. Prior to that, he was Asia Bureau Chief of Institutional Investor for ten years.

logo

AF China Bond