India’s 2020 gold demand may hit 26-year low as prices rally – WGC – ZAWYA

India’s 2020 gold demand may hit 26-year low as prices rally – WGC – ZAWYA

India's 2020 gold demand may hit 26-year low as prices rally - WGC Gold demand plunges 56% y/y in H1 to 165.6 T -WGC    A saleswoman picks gold necklaces to show it to a customer inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kochi, India, May 7, 2019. Image used for illustrative purposesMUMBAI - India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee."Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.MUMBAI - India's gold demand in 2020 is expected to