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Commodities

Asia's retail gold demand sinks as price hits 9-year high

As 1 ounce nears its record of $1,923, retailing in India and China proves tough

In India and China, retail demand for gold jewelry has fallen as shoppers stay home due to the coronavirus pandemic.   © Reuters
RURIKA IMAHASHI, KIRAN SHARMA and CK TAN, Nikkei staff writers | Japan

TOKYO/NEW DELHI/SHANGHAI -- As global gold prices near record levels, pushed higher by investors looking for a safe haven amid the novel coronavirus pandemic, Asia's retail demand for physical gold has taken a beating.

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