Gold demand in India is expected to remain strong during Akshaya Tritiya this year, despite the surge in prices, as investors are drawn by the high returns seen over the past two years.
The global shift towards gold as a hedge against macroeconomic risks is also being reflected in India. The uncertainty surrounding the US election and potential rate cuts has driven up demand for safe-haven assets like gold.
The recently announced customs duty cut in the Union Budget will boost the gold demand in the country, making it a bright gold market destination, said the World Gold Council (WGC).
New Delhi [India], May 2 (ANI): Amid inflation and high gold prices, India's demand for the yellow metal declined sharply in the January-March quarter by 18 per cent to 135.5 tonnes, according to World Gold Council (WGC).
Mumbai (Maharashtra) [India], July 29 (ANI): Demand for gold in India during April to June (Q2 2021) totalled 76.1 tonnes, marking an increase of 19.2 per cent as compared to 63.8 tonnes in the same period of last year, the World Gold Council (WGC) said on Thursday.