India’s gold demand to remain at 650-750 tonnes in 2017 - WGC

According to Somasundaram PR, Managing Director of World Gold Council (WGC) - India, gold demand in India will remain in the range of 650 to 750 tonnes in 2017 even if the GST rates are fixed at a lower rate, Reuters reports.

Key Quotes:

"Despite the first quarter showing 15% growth and the second quarter promising to be good because of good Akshaya Trithiya sales, we feel that industry will take 12 to 18 months to adjust to the new GST rates. Consequently, the demand may be more or less at last year’s level."