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Asian markets traded lower, tracking a sell-off in U.S. equities and reacting to Japan's revised Q4 GDP, which came in at 2.2% on an annualised basis, below the previous estimate of 2.8%. The Nikkei, Hang Seng, and Shanghai indices declined by 1.55%, 0.36%, and 0.08%, respectively.
Demand: Est. at 4,448 tons in CY2023 (valued at $306 Bn. at average value of $1,940 per ounce) bifurcated as primarily (a) Jewellery: 49% (b) Bars & Coins: 27% (c) Central Banks: 23%
Asian markets traded mixed following a volatile week in global equities. China's consumer inflation fell below zero for the first time in 13 months, with the consumer price index declining 0.7% in February, compared to a 0.5% gain in January. The Nikkei traded higher by 0.54%.