Ahead of Dhanteras – Indian Gold Demand in 2018 is Expected to Fall From the Previous year – A fall in demand from the world’s Second Biggest Bullion buyer could weigh on global prices that are already down 6.5 percent so far this year.
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But lower imports could also help the South Asian country reduce its trade deficit and support a weak rupee, which hit a record low last month.
“Demand is expected to be muted due to a steep rise in prices. It is likely to be at the lower end of the 700 to 800 tonnes range,” Somasundaram PR, managing director of the gold council’s Indian operations –
Neal Bhai Reports
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