Demand plunge will spoil gold rally, says Metals Focus

LONDON (Reuters) - Demand for gold will weaken this year as a surge in purchases by investors will not offset a dramatic fall in consumption by jewellers, industry and central banks, an industry report said on Wednesday.Consultancy Metals Focus also predicted that gold prices would average $1,700 an ounce this year, suggesting that a rally to eight-year highs around $1,770 will stall. The coronavirus outbreak has turned the global gold market on its head. Lockdowns have collapsed sales of..