India, China Gold demand may drive Gold Prices in coming months
German Bank, Commerzbank looks for Chinese and Indian demand to support gold in the coming months. Indian gold demand traditionally peaks in the fourth quarter since the festival season begins at the end of September and the wedding season starts in November. Increased gold demand in India and China should lend support to the gold price.
How Fed decision influence Gold?
Commerzbank economists believe that these are more likely to start in December than in October because a whole series of additional economic data, labor market reports in particular, will then be available to enable a better appraisal of the situation.
US Gold production declines 4% y/y to 17,000 kg in June
Production of gold by United States mines was about 17,000 kilograms (kg) in June, a 10% increase compared with May production and a 4% decrease compared with that of June 2014, as per the latest figures from U.S. Geological Survey.