SAFAKNA TURKEY – Gold in Asia remained stable after rising on Tuesday as China continued to ease pandemic restrictions and signs of declining inflation in the US.
Spot gold traded above $1,800 an ounce after rising 0.9% in the previous session after the Beijing administration lifted a requirement to quarantine arriving travelers.
A gram of gold finds buyers at a price of 1089 Turkish liras.
Growth in China, one of the world’s largest buyers of gold, is expected to pick up next year following the rapid easing of zero-coronavirus policies.
However, it is stated that such a situation may contribute to global inflationary pressure and create a negative effect for the interest-free precious metal.
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