India's gold demand to hit four-year low amid price rally, World Gold Council says

In 2024, India's gold demand may drop to its lowest in four years, according to the World Gold Council. This is attributed to record high prices impacting purchases during peak festival seasons. Current domestic gold prices have surged 26% in 2024, leading to cautious buying despite favorable demand for weddings and festivals. Moreover, significant advances in purchases followed the government's import duty reduction.