According to the planet Gold Council, between July and September, the demand for gold within the country declined by 30 per cent to 88.6 tonnes. However, within the report of Motilal Oswal Financial Services, it's been speculated that the demand for gold will increase within the months of October to December.
Diwali and other big festivals are the rationale for increasing demand for gold in India from October to December. aside from this, now the wedding season is additionally coming here. thanks to this, there's an opportunity of increase in demand for gold. consistent with the report, thanks to increasing demand, the agricultural economy is showing good momentum. The effect of this is often seen within the increased demand for gold bars, coins and jewelery. Rural sector accounts for quite 60 per cent of the country's gold demand.
According to the planet Gold Council, the demand for jewelery was reduced by 29 per cent to Rs 24,100 crore within the month of July to September. However, gold demand for investment in gold during this era was 33.8 tonnes. During the July-September quarter last year, gold demand for investment was 22.3 tonnes. The council says that the festive season remains in India. Therefore, there could also be a rise in demand for gold within the coming months and a rise in purchases. Marriage season also will begin. This season also saw a rise in demand for gold. Gold prices can also be suffering from this.