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India's 2018 gold demand to lag due to GST, new transparency rules: WGC

Gold demand in India is likely to remain below its 10-year average for a third year in 2018

Reuters  |  MUMBAI 

  Gold demand in India is likely to remain below its 10-year average for a third year in 2018 as higher taxes and new transparency rules on purchases may cap last year's rebound in buying, the World Gold Council (WGC) said on Tuesday. India is the world's second-biggest gold consumer and lower demand there could rein in global prices that have risen 8 percent since the middle of December, although a drop in gold imports would help India reduce its trade deficit. Gold consumption in 2018 will likely be between 700 and 800 tonnes versus 727 tonnes last year, ...

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First Published: Tue, February 06 2018. 10:37 IST
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