Gold: Demand in India has fallen to a record low

31.07.2020 18:39
Gold consumption in India since the beginning of the year has fallen by 56% to 165.6 tons. This is reported on Friday by the newspaper "action Age".
According to the world gold Council, the decline in demand for this precious metal in India in the first half of 2020 was caused by the deterioration of the economy due to the coronavirus pandemic and the fall in the purchasing power of the population, as well as the growth of world gold prices.
"This year will be very difficult for India. We foresee both a further fall to record levels of demand for gold in the country, and a record increase in prices for it, " the publication quotes the opinion of a number of representatives of the world Council.
At the same time, some experts do not exclude that the demand for gold in India may reach 350 tons in the fourth quarter of this year if the epidemiological situation in the country improves and economic indicators grow.

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