Gold demand in India on the rise

India is one of the world’s largest consumers of gold and the demand is likely to rise after a normal monsoon and the efforts of the government to raise rural income. Global gold consumption fell to the lowest level in 10 years in the first quarter of 2018 due to the subdued gold prices that affected the overall demand.

According to the latest World Gold Council report the first three months saw the world gold demand pegged at 973 tonnes making it the lowest first quarter since 2008.While China, India, Germany and the U.S.saw a dip in the demand, there was a slight growth In the North American region. Demand for jewelry dipped to the lowest in almost 10 years due to a rise in the local gold prices.