TIL Desk/Business/New Delhi/ India’s gold demand fell nine per cent to 690.4 tonnes in 2019 from the previous calendar year as record domestic prices and economic slowdown dented retail purchase, the World Gold Council (WGC) said on Thursday.
However, in 2020, gold demand in India — the world’s second biggest consumer after China — could increase to 700-800 tonnes on hopes of increased acceptance of high price level and likely economic reforms boosting consumer confidence.
The
domestic gold price finished 2019 just above Rs 39,000 per ten grams, almost 24
per cent higher than at the end of 2018, WGC said in its latest report.
