The article below represents a preview only and is not meant for reuse or republishing.
Monsoon, festive sales to push gold demand up
New Delhi, May 10 -- A strong rupee and falling domestic gold prices drove demand in India in the quarter ended 31 March. Demand for the yellow metal is likely to increase further between April and June because of the wedding season, Akshaya Tritiya festival and higher crop prices, according to World Gold Council (WGC)'s latest Gold Demand Trends report. The weather department has forecast that India is likely to have a "near normal" monsoon this year, which augurs well for the rural economy and for gold demand, said WGC. It estimates domestic gold demand to be in the range of 750-850 tonnes in 2019. The India Meteorological Department (IMD) said rainfall will be around 96% of the 50-year average, as it expects weak El Nino conditions durin...
To read the full article or to get the complete feed from this publication, please Contact Us