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Middle East tensions have triggered a safe-haven demand, and gold has surged to nearly historical highs at $2400.
Boosted by safe-haven demand, gold futures soared on Tuesday.
Sharp Rise in Demand for Gold in India After Tax Cut – Commerzbank
World Gold Council: Q2 gold jewelry consumer demand in China decreased by 18% year-on-year, but investment demand remains strong.
Due to the skyrocketing gold prices and economic slowdown, China's jewelry demand in the second quarter of 2024 hit a new low at the same period since 2009, only 86 tons; China's gold jewelry consumption in the first half of the year also decreased by 18% year-on-year, to 270 tons.
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