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Rising gold prices likely to dampen Indian festive purchases: WGC

This year's seasonal increase could be moderate, though, due to a liquidity crunch, rising local prices and more

Reuters  |  Mumba 

Indian gold demand in 2018 is expected to fall from the previous year as a rally in local prices to five-year highs is likely to dent purchases during key festivals in the December quarter, the World Gold Council (WGC) said on Thursday. A fall in demand from the world's second-biggest bullion buyer could weigh on global prices that are already down 6.5 per cent so far this year. But lower imports could also help the South Asian country reduce its trade deficit and support a weak rupee, which hit a record low last month. "Demand is expected to be muted due to a ...

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First Published: Thu, November 01 2018. 11:01 IST