Gold demand rises 47% in July-September: WGC
The Hindu
‘Festivals, inflation fears to add sparkle’
Demand for gold in India, which was 47% higher in the July-September quarter compared with a year earlier, is expected to rise further in the current quarter due to festival and wedding season demand, said Somasundaram P.R., regional CEO, India, World Gold Council. Expectations of higher inflation in the country would also likely further spur demand for the yellow metal, he added.
”India’s Q3 2021 gold demand at 139.1 tonnes is a 47% jump over 2020, reflecting a combination of low base effect and return of positive trade and consumer sentiments,” he said.
“This is primarily driven by what appears to be a firm grip on the pandemic with higher vaccination rates and falling infection rates, leading to a strong rebound in economic activity.”
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