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World Gold Council Assessment: Prospects for the decrease in gold demand!
Posted on: 21/Oct/2021 11:47:12 AM
The World Gold Council has informed that following the prevailing coronavirus pandemic of the 1st and 2nd surge in India, there are prospects for a decrease in gold demand in the current financial year. But there may be an increase in gold demand next year!
The World Gold Council has further informed as to the after-effects of the 2 coronavirus pandemic waves:
There are prospects for the decrease in gold demand in India in the current year. However, there are strong prospects for an increase in gold demand next year!
In the current year, the demand for gold has decreased more than the expected level! Yet, the import level is still strong! Further, as relaxations are being gradually announced in the imposed lockdown restrictions as a preventive measure against the 2 corona pandemic waves, their prospects for increases in retail sales of gold!
Moreover, there are strong prospects for an increase in gold demand next year! Still, depending on the prevailing situation on the coronavirus pandemic front, an indecisive situation may occur!
As regards India, in case the revenues increase, the demand for gold will also increase in the long-term prospects.
The price of gold, inflation and the season may affect the gold demand in the short term.
AS Indian Economy is ging the economic growth in the current period, the demand for gold will also increase!
