Wedding season sends gold demand in India soaringBloombergGold consumption in India would probably be the best in at least a decade in this quarter, as buyers stocked up for festivals last month and the peak wedding period that followed, the World Gold Council (WGC) said. Indians buy gold ornaments to wear and gift during weddings as the precious metal is considered auspicious, and a bringer of luck and prosperity. Almost every day there are weddings,” WGC India head P.R. Gold jewelry is pictured on a counter inside a store in Mumbai, India, on Nov. 2. With very little mining and modest levels of recycling, India is heavily reliant on bullion imports to meet domestic demand.

Source: Taipei Times December 10, 2021 01:00 UTC