LONDON (Reuters) -
Gold demand in India is likely to remain low for the current year, the World Gold Council has said. India ranks 2nd in gold globally. In this case, it is said that the gold price will continue to stagnate due to the rise, decline, and recession. According to the World Gold Council, gold has been bought from 761 runs so far this year, with the World Gold Council already forecasting India's consumption of gold to be 750 to 800 runs.
Meanwhile, the price of gold in the international market is fluctuating. As a result, the price of gold has also fluctuated locally. Last January, for the first time in history, a shaving gold price exceeded Rs 25 thousand. Then, in June, it crossed the Rs 26,000 mark, reaching the milestone of 27,000, 28,000 and 29,000 in August. In September, the number changed by more than 30 thousand.
Gold prices continued to fall as the US-China trade war ended. This month, the festive season of Saraswati Pooja, Vijayadasamy, Deepavali and other festivals has increased the demand for gold and so on. But gold sales are said to have declined due to continued rising prices. With 40 tonnes of gold being sold every year during Diwali, the Indian Gold Jewelery Traders Association said it would reduce its sales by 50 per cent this year
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