Is the demand for gold jewelery decreasing among people?

India’s demand for gold jewelery is likely to decline in the second and third quarters of the current year 2022-23 (July to December 2022) due to higher import duty, higher price volatility and rising inflation, according to the Investment Information and Credit Rating Agency of India. Credit Rating Agency of India Limited – ICRA) said in a report.

The report said, “Gold demand is expected to decline by up to 8 per cent in the second quarter of FY 2022-23. Further, demand is estimated to decline by 15 per cent in the third quarter.