Page 2 - Indian Gold Demand
With demand falling, retailers offer gold to Indians for as little as Re 1
Demand for gold is falling, partly as a result of government measures, higher local prices and the metal's fading appeal among more youthful customers
 "With demand falling, retailers offer gold to Indians for as little as Re 1")
Indians are falling out of love with gold and have a new-found fascination
Weak rupee, less rural demand and low interest from millennials are among the factors for low imports
 "Indians are falling out of love with gold and have a new-found fascination")
GST, other such policies to boost gold demand, says World Gold Council
Income growth also spurs savings, helping increase demand for gold bars and coins
India's gold demand down 24% in September quarter as GST levy, PMLA bite
India's gold demand declined by a staggering 24 per cent in the July - September quarter due to implementation of the goods and services tax (GST) and bringing jewellery industry under Prevention of Money Laundering Act (PMLA) which required KYC details from buyers even for retail transaction that deterred buyers. Data compiled by the apex mining industry body the World Gold Council (WGC) showed India's overall gold demand at 145.9 tonnes for the quarter ended September 2017 compared to 192.8 tonnes in the corresponding quarter last year. The decline in demand was attributed to the uncertainty around the GST which was initially at 18 per cent on making charges and the job work availed from others.Later, however, the GST council clarified the levy of 5 per cent on job work which brought a big relief to the entire jewellery sector. Also, the government scrapped PMLA notification for jewellery sector before Diwali which boosted jewellery sales this festive season. However before this, ...
 "India's gold demand down 24% in September quarter as GST levy, PMLA bite")
