Gold purchases will be triggered around Diwali.

Somasundaram PR, Regional CEO, India, World Gold Council get expressed on the gold demand around Dhanteras. He said, Dhanteras is India’s busiest gold buying occasion, one that truly reflects the broader consumer sentiment and something that is considered especially auspicious for continued prosperity. 

Anecdotal feedback from industry suggests that gold is seeing strong interest, though consumers remain intensely price conscious due to volatility and price rise in the near-term. Considering the steady macroeconomic scenario, a good monsoon, and strong consumer sentiment, demand is likely to remain robust in the last quarter.

The ensuing wedding season will be another trigger for consumers to consider buying gold around Diwali. The strong case for gold among professional investors to mitigate portfolio risk is also very positive for gold demand at this time.

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