Indian Gold Demand May Pick Up Later This Year
New Delhi-India (June 5) Indian gold demand may pick up later this year, says Jeff Nichols, publisher of Nichols on Gold. “With a new government in New Delhi, the country’s restrictive gold import policies will almost certainly be relaxed in the weeks or months ahead, leading to a surge in demand ahead of this autumn’s festival season, traditionally a time of great gold interest across the sub-continent. Remember, until last year, India was the world’s largest gold-consuming market when a surge in Chinese demand and India’s own restrictive gold-import policies reduced it to second place in the gold world,” he says.
India is the world's second largest consumer of gold (after China).