Commerzbank: China And India's Gold Demand Is Clearly Differentiated

The situation of the world's largest gold consumer countries has diverged, India's gold demand is weak, but China remains strong.

According to the Indian Ministry of Finance, domestic gold imports fell by 42% year-on-year in October.

Commerzbank said that the rapid rise in gold and the devaluation of the rupee are the most important reasons, and Indian gold producers are looking for ways to boost sales during the festival this week.

According to data from the China Gold Association, domestic gold demand rose by 5.1% year-on-year to 850 tons in the first three quarters.

At the same time, China's gold production fell by 7.5% to 290 tons.

Commerzbank pointed out that China will make up for the gap between supply and demand by importing gold from Hong Kong and Switzerland, and will maintain a gold importing country in the future.