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Hong Kong’s Gold Rush: Locals Cash In as Prices Hit Record High

India Gold Demand Slump Deepens as Asia Faces Soaring Prices
India Gold Demand Slump Deepens as Asia Faces Soaring Prices

Hong Kong’s jewelry shops are experiencing a surge in activity as gold prices hit new record highs this week.

While many residents rush to sell their gold for substantial profits – up to 63% for those who bought in October 2023 – others, particularly mainland Chinese couples planning weddings, are buying despite high prices.

Some analysts now predict gold could reach $3,400 this year, driven by central bank buying and inflation concerns.

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