The demand for gold in India during the festivals fell by 40% in annual terms

Purchases of gold during the period of weddings and festivals in India, the second largest precious metal market in the world, remained below the values typical of this period. According to the All India Germs & Domestic Counsel industry association, in annual terms, demand fell by almost 40%. The indicator was negatively impacted by the decline in sales in agricultural regions, for which residents account for two thirds of the demand for gold in the country. Residents of these regions consider jewelry as their main savings tool.

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