You are here: Home » Reuters » News
Business Standard

Gold price increase to dampen Indian festive purchases - WGC

Reuters  |  MUMBAI 

By Rajendra JadhavMUMBAI (Reuters) - 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 percent 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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, November 01 2018. 10:35 IST