Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Gold December 09, 2019 01:30:55 PM

Gold Investment Demand to See Further Decline in India

Paul Ploumis
ScrapMonster Author
The Indian gold investment demand had dropped significantly by 35% in Q3 this year to around 22.3 tonnes.

Gold Investment Demand to See Further Decline in India

SEATTLE (Scrap Monster): The gold investment demand in India is likely to see further decline in Q4 this year, mainly on account of lack of gold purchases by rural Indian population. It must be noted that incessant and unexpected rains had led to heavy crop loss across the country.

The rural gold demand usually gains momentum following kharif crop harvesting. However, the heavy crop loss has resulted in 50-60% decline in gold demand during the current year, in comparison with the prior year. The farmers in the country are seen buying gold only for wedding purposes. Incidentally, rural demand accounts for nearly 60% of the total gold demand in the country.

ALSO READ: World Gold Council Unveils Huge Opportunity for Gold Market Growth

The Indian gold investment demand had dropped significantly by 35% in Q3 this year to around 22.3 tonnes.

According to Anantha Padmanabhan, chairman, All India Gem & Jewellery Domestic Council, the overall investment demand for gold in the country has seen a rapid decline following the festive season. The high prices of gold have discouraged consumers from purchasing gold, he noted.

×

Quick Search

Advanced Search