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India gold demand to hit three-year low : WGC

Nov 05, 2019 14:03 IST

The World Gold Council says India’s gold demand is expected to fall to its lowest level in three years in 2019. Along with higher prices, gold demand is getting affected by weak rural sentiment. Two-thirds of India’s gold demand comes from rural areas, where jewellery is a traditional store of wealth. The slump in domestic demand may also put a brake on global prices for gold.