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India's gold demand may fall to a 26-year low

Jul 30, 2020 14:39 IST

India’s gold demand in 2020 is expected to fall to the lowest level in 26 years, Reuters has reported. Domestic bullion prices hitting a record high and falling disposable incomes amid the Covid-19 pandemic are likely to drag down the demand for the precious metal, the World Gold Council said on Thursday. Lower demand in India, which is the world's second-biggest bullion consumer, could limit a rally in global prices which has hit a record high in the last few days.

National