GOLD NEWS

Decade-low tariff to boost Indian gold consumption in festive season

Tue Oct 01 2024

Boosted by a decade-low tariff, India's consumption of gold is expected to achieve robust growth this year as the festive and wedding seasons are just around the corner.

Festival and wedding seasons in the South Asian nation kick off on Thursday, with the biggest Hindu festival of Diwali falling on Nov. 1. During this period, which is considered auspicious, people rush to buy gold as the metal represents luck, and they also tend to keep it for rainy days. On top of seasonal festivities, gold is bought for gifting to a bride, family and friends when there is a wedding in an Indian household.

Source: https://asia.nikkei.com