Strong de­mand

The Star Malaysia - Star2 - - LIVING -

Over the past decade, gold de­mand in In­dia has in­creased at an av­er­age rate of 13% per year, out­pac­ing the coun­try’s real GDP, in­fla­tion and pop­u­la­tion growth by 6%, 8% and 12% re­spec­tively.

Cur­rently, the coun­try has one of the high­est sav­ing rates in the world; es­ti­mated at around 30% of to­tal in­come, of which 10% is in­vested in gold.

Con­tin­ued rapid eco­nomic growth and ur­ban­i­sa­tion will cre­ate not only greater wealth but also in­fla­tion­ary pres­sures stim­u­lat­ing gold de­mand.

The WGC re­ports: “In the longer term, we are con­fi­dent that In­dia’s favourable de­mo­graphic trends, the grow­ing af­flu­ent mid­dle class and de­clin­ing age pro­file, should en­sure a buoy­ant con­sump­tion growth.” – Neeta Lal

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.