India set to unleash pent-up gold demand

Bloomberg/Swansy Afonso, Haslinda Amin and Rishaad Salamat

Map of India colored appropriately - gold“Some of the weddings and festive buying that had been postponed because of the pandemic will come back in 2021, and this pent-up demand will boost sales, P.R. Somasundaram, managing director for India at the London-based [World Gold] Council, said in an interview to Bloomberg TV.”

USAGOLD note:  We have contemplated what the effect might be once Indian and Chinese physical demand came back online. Looks like we are going to soon find out. On top of the very strong investment demand in the West, things could very interesting on the physical supply front.

Repost from 1-20-2021

This entry was posted in Today's top gold news and opinion. Bookmark the permalink.