Gold demand in major
consumers- China and India, fell in the first quarter from the previous year's
record levels, the World Gold Council said on Tuesday, though a drop in sales
from bullion-backed investment funds kept overall demand steady.
Indian consumer
demand was down by just over a quarter to 190.3 tonnes, with gold jewellery
consumption dropping 9 percent and coin and bar buying down 54 percent.
Gold held below $1,300 an ounce as a lack of major economic data and no significant developments in the Ukraine crisis kept investor interest muted. Spot gold was steady at $1,293.40 an ounce by 0313 GMT.
Gold held below $1,300 an ounce as a lack of major economic data and no significant developments in the Ukraine crisis kept investor interest muted. Spot gold was steady at $1,293.40 an ounce by 0313 GMT.
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GOLD (JUNE)
Trend: Consolidate | Strategy:
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R1- 28450, R2- 28850| S1-27750,
S2- 27350
Overall gold
consumption in the first quarter held steady at 1,074.5 tonnes, however, as net
outflows from bullion-backed exchange-traded funds (ETFs), which last year
reached record levels, dried up.
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