Page 4 - World Gold Council
Gold buying: Annual demand not expected to return to 850 tonnes till 2020
World Gold Council (WGC), the industry's market development body, expects India's annual demand to not cross 850 tonnes for another three years.For this calendar year, it estimates 650-750 tonnes. The past year had seen a 21 per cent fall, to 676 tonnes, lowest in seven years."India's demand has fallen sharply in the past but then recovered. Previous attempts by the authorities to clamp on gold (holdings) have failed. Gold is too intimately ingrained in Indian society. On balance, while demand is likely to improve, our view for 2017 is cautious," says WGC on its projection for the year.Over time, we anticipate economic growth and greater transparency within India's gold market will push demand higher. By 2020, we see Indian consumers buying between 850 and 950 tonnes," said Alistair Hewitt, the Council's director, market intelligence, while issuing the latest report on Wednesday.The industry has more to contend with in 2017. The ban on cash transactions over Rs 300,000 (for buying ...
 "Gold buying: Annual demand not expected to return to 850 tonnes till 2020")
India's 2016 gold demand likely to fall to 7-year low thanks to smuggling
This is due to higher prices and increased smuggling
 "India's 2016 gold demand likely to fall to 7-year low thanks to smuggling")
