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IPMI and Industry News: Industry News

India: High Gold Prices Weigh on Diwali Demand

Monday, October 28, 2019  
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Diwali gold sales down 40% as high gold price weighs on demand - analysts

Diwali gold sales in one of the world's top gold consuming nations disappointed over the weekend as high prices weighed on gold demand, analysts said.

The Diwali celebrations, known as the Festival of Light, were in full swing this past weekend. Still, consumers were bogged down by surging domestic gold prices, which kept purchases restrained, despite the auspicious time to buy jewelry, said SP Angel. - Kitco 10/28/2019

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