Will gold continue to shine in India?

INDIA WATCH

Economic Times/Jimmy Patel/2-13-2020

“India is the second-largest consumer of gold globally with an annual demand of approximately 800-900 tonnes. By tradition and culture, in India, gold has always been looked at as eternal wealth and is symbolic of Goddess Lakshmi.  Besides, in the hearts of millions of Indians, gold has always carried high emotional value, as it is passed down to generations and strengthens family bonds.”

USAGOLD note:  Gold has also performed well as an investment at a time when the Indian rupee has weakened against the U.S. dollar.

Line chart of gold in India rupee showing strong gains

Chart courtesy of TradingView.com

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