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India: Gold consumption set to grow first time in 3 years

Posted on 22 March 2013

Gold use in India, the world’s biggest buyer, may climb for the first time in three years as rising incomes and inflation boost investment demand, undermining efforts to narrow a record current account deficit.
Consumption may total 865 tonnes to 960 tonnes this year, compared with 864.2 tonnes in 2012, Somasundaram PR, managing director of the World Gold Council for India, said in an interview in Mumbai. The gain in imports will match the increase in demand, he said. The country imported 860 tonnes last year, according to data from the council………………………………………..Full Article: Source


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