Demand for gold in Asia is surging despite high prices, as buyers seek a hedge against geopolitical and economic uncertainty. In Japan, there is currently a strong bullish sentiment on gold. Chinese investors, facing currency devaluation, real estate downturn, and trade tensions, have increased their gold purchases by 27% in the first quarter. In Thailand and Vietnam, retail investors continue to buy gold heavily. Conversely, demand in India and Australia remains sensitive to high prices, with Indian gold prices trading at a discount and a significant drop in Perth Mint’s gold sales in May. Albert Cheng, CEO of the Singapore Bullion Market Association, told Reuters: “The trend in the market has been that if the consumer wants to buy gold, they will. The price doesn’t matter.”
Asia's Gold Rush: Investors Seek Safe Haven Amid Economic Uncertainty
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