Asian gold demand

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Indian Gold Demand Was Down 39% in Q2 – but Will Rise 27% in Q3

gold demand

Indian gold demand fell 39% at 204.1 tons in the second quarter according to data released by the World Gold Council (WGC) last week. Gold jewelry demand was also down 18% at 154.5 tons.

Import duties leftover from a currency crisis in 2013 have stifled Indian gold demand from their origination through this Q2.

Although the duties were supposed to have been repealed, they still haven’t been. Here’s why – plus two reasons the country’s demand will pick up quickly in the latter half of 2014…