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India's yearly gold demand in 2020 can be the lowest since 1995: WGC

According to the World Gold Council (WGC), gold demand in India thus far in CY20 stands at 252 tonnes, as compared to 496 tonnes in the same period last year.

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Demand for gold at the global level slipped 29 per cent YoY to 333 tonnes in Q3CY20.

Puneet Wadhwa New Delhi
The calendar year 2020 (CY20) may well turn out to be the worst year for gold demand in India since 1995 if the current trends are extrapolated to full-year forecasts. According to the World Gold Council (WGC), gold demand in India thus far in CY20 stands at 252 tonnes, as compared to 496 tonnes in the same period last year. Even if October – December 2019 (Q4CY19) demand of 194 tonnes is added to the CY20 demand till now, the total demand for CY20 will be lower compared to CY19 total demand of 696 tonnes.

“CY19 was as it is

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First Published: Oct 29 2020 | 1:28 PM IST

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