According to the World Gold Council (World Gold Council, WGC), the weaker demand for jewelry and slowing economic growth may curb purchases of gold, but the demand for the metal from China, which is its largest consumer, will remain at strong about 900-1000 tons next year, which is almost the same levels of 2015.
On the sidelines of an industry conference in Singapore Roland Van (Roland Wang), managing director of WGC Chinese division, told Reuters: "We believe that we can maintain a certain forecast at around 900-1000 tons of annual consumption (in China in 2017). However, demand may encounter some problems, especially in the jewelry segment, and it will depend on prices and their own economic situation in China. "
Roland Wang also expects demand in China in 2016 will be at around 900-1000 tons. In 2015, the demand for gold in China reached 984.5 tons.
Roland Wang said jewelry traders noted "an increase in demand for gold bars from the end of September" on the part of investors seeking alternative investments on the background of the real estate market contraction in China.
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Murowa Diamonds division RioZim, is reported to have reduced the amount of salaries and benefits for their employees due to cost-cutting measures taken against the backdrop of the fall in diamond prices.
Murowa losses in the first half of the fiscal year, which ended June 30, 2015 amounted to $ 573 000.
The publication The Financial Gazette quoted company representative Lovemore Chimuki (Lovemore Chimuka), who said that the spending cuts needed to keep the company afloat.
"In conditions of low commodity prices, any mining company will try to survive and strive to reduce costs, streamline operations and generate income even in adverse conditions - he said -. We, however, believe that the price (for diamonds) grow. we have rationalized units with high costs. We have also reduced the size of salaries and benefits for our employees. "
The company did not provide details on the extent of these reductions.
Murowa recently reported that it has acquired equipment worth about $ 6 million of mining. In the company over the next four years will be invested approximately $ 60 million as RioZim seeks to expand operations at the mine.
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