India's gold demand to soften in Q3 on price rise, rural distress: WGC

India's gold demand is expected to soften in the September quarter as record high local prices dampen buying in the world's second biggest consumer of the precious metal, the World Gold Council (WGC) said on Thursday.

The fall in consumption could weigh on global prices that have risen nearly 10 per cent so far in the 2019, but could help in bringing down the south Asian country's trade deficit, supporting the rupee. Rural distress, higher prices and a hike in India's import tax could dampen demand during the September.....

This article is no longer available in our repository.

There could be multiple reasons for this.