Will lower prices attract buyers to gold?
It is believed Asia (specifically, Asian central banks) will provide enough demand at current levels to support price. But it's tough to think the effect of that recent news could last, especially when risk appetite is pressured again and other assets fall. Also worth considering: India is the largest consumer of gold and is struggling with reduced purchasing power from a substantial decline in the rupee. So ... it seems like the demand picture is a wash, more or less, perhaps until prices are meaningfully lower (i.e. gold sells off with risk appetite as investors move to cash and cover other investment losses.)
Looking at a chart of gold futures ...
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