Retail jewellery consumers in China and India, the world's largest and second-largest retail gold consumers, are shying away from purchase.
India and China accounted for 48% of total global retail demand in 2022.China accounted for over 27 percent of the total global demand for gold jewelry in 2022.
With gold prices just off their records of 2020, caused by safe-haven investors seeking solace amid recession fears and banking crises in the US and Europe, retail buyers are not purchasing jewellery items.
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