New Delhi: It is doubtful whether gold sales will be high this year like last year’s festive period, the World Gold Council has said.
During last year’s festive season, gold sales were phenomenal. But it is doubtful that will be the case this year, as consumers have not flocked to stores this time, the World Gold Council said.
In the last year, gold jewelery sales have almost doubled. Last year’s festive season saw a surge in sales after the two previous years had suffered due to the coronavirus pandemic
Almost 344 tons of gold were bought and accumulated by Indians during this period. However, it will not be that much this year, World Gold Council Chief Executive Officer BR Somasundaram said.
He added: We can definitely say that the sales in the second half of this year will be better than the first half of this year.
But, it cannot be said that it will be as much as last year. Although inflation has increased slightly, there is no crisis in sales.
He has said this. Last year, a total of 800 tons of gold was sold, and it is expected that the sale may be 750 tons this year.
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