India’s gold demand could falter in June quarter on COVID-19 lockdowns
The Hindu
Appetite for gold soared in the first quarter on pent-up demand after weddings were delayed in 2020 due to the COVID-19 pandemic.
India’s gold consumption is expected to falter in the June quarter as various states are imposing lockdowns to arrest rising COVID-19 cases, dampening the celebration of weddings and key festivals, the World Gold Council (WGC) said on Thursday. Appetite for gold soared in the first quarter on pent-up demand after weddings were delayed in 2020 due to the COVID-19 pandemic. But an escalating crisis in India has prompted most State governments to impose curbs on the movement of people and asked non-essential business to close, dampening demand in the world’s second-biggest bullion consumer.
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