It fell nearly 1.40% in the week.The Dollar Index has been weakening on rising Fed rate cut expectations and healthy risk appetite. In addition, China's gold imports in April were down around 30% from March level.It appears that Chinese gold buying slowdown is more about high prices rather than anything else. So, in all probability, it may resume gold buying as prices fall. The rate cut has been delayed, not cancelled. Chinese Central Bank buying is expected to return sooner than later as prices are significantly down from the cycle high of $2,450.

Source: Economic Times June 08, 2024 07:05 UTC