Demand for gold in India remains 2017 at 650-750 tonnes – WGC

FXStreet – According to Somasundaram PR, Managing Director of World Gold Council (WGC) India, the demand for Gold in India in 2017, in between 650 to 750 tons, even if the GST Rate should be pushed to the bottom of, as reported by Reuters.

Important Quotes:

“Despite the 15% growth in 1. Quarter and a seemingly good 2. Quarter, due to the good Akshaya Trithiya sales, we assume that the industry will need 12-18 months to adapt to the new GST Rate. Therefore, the demand should be more or less on the level of the previous year.”

** FXStreet News Editorial, FXStreet**

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