India, the second-largest gold consumer globally, is expected to see growing demand for the precious metal this year in the range of 700-800 tons

India, the second-largest gold consumer globally, is expected to see growing demand for the precious metal this year in the range of 700-800 tons, up from 690 tons in 2019.
According to a World Gold Council (WGC) report, growth could come as a result of the Indian government’s attempts to bolster consumer confidence and spending power in order to revive the economy.

“We believe reforms that are going to be announced in the budget are likely to put more money in the hands of people. It will drive up consumption,” said Somasundaram PR, the managing director of WGC’s Indian operations.