The Year of the Ox Looks Golden

#China #LunarNewYear #Ox #gold

$XAU $GLD

China’s economic recovery from its virus casedemic may offer some encouragement to gold bulls, as expectations are building that jewelry demand will rebound.

Jewelry retailers on the Mainland are reporting strong sales recently as consumer are buying online.

The slow start to Y 2020 saw demand in China, the world’s biggest gold consumer, fall 35% to the lowest annual mark since Y 2009.

Optimism about New Year sales has improved significantly.

China’s Lunar New Year holiday, a traditional frame to buy gold, begins on Thursday, 12 February.

Have a healthy week, Keep the Faith!