Weighed down by a sharp increase in yellow metal prices on the back of geo-political tensions sparked by the Russia-Ukraine conflict and rising inflation, India’s gold consumption in the calendar year stood at about 770 tonnes.
The WGC's Chief Executive Officer David Tait said: "The World Gold Council (WGC) sees India’s gold demand witnessing a sharp upswing to top 800 tonnes this year despite the headline inflation being expected to remain far more stubborn across several economies."
"I do believe inflation has peaked. My expectation is that you will see a topping out of inflation. The headline inflation will drop and I think people’s propensity to consume will recover again," as reported in The Hindu-Businessline.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
The WGC's Chief Executive Officer David Tait said: "The World Gold Council (WGC) sees India’s gold demand witnessing a sharp upswing to top 800 tonnes this year despite the headline inflation being expected to remain far more stubborn across several economies."
"I do believe inflation has peaked. My expectation is that you will see a topping out of inflation. The headline inflation will drop and I think people’s propensity to consume will recover again," as reported in The Hindu-Businessline.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
