Indian Gold Demand Resilient Despite Record Prices
Indian gold demand remains strong despite record prices, driven by investment interest. While jewelry sales volumes have decreased, the value has increased due to higher prices. Consumers are shifting towards lighter and lower-purity gold. Retailers report significant revenue growth, supported by festival and wedding demand. Gold ETFs have seen a surge in interest, with record inflows and a 60% increase in accounts. Digital gold purchases have also tripled. Indian gold imports rose in value but declined in tonnage, reflecting high prices. Gold is culturally significant in India, serving as both adornment and a store of wealth.
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