Gold Buying in India Seen Rising 15% as Festivals Aid Demand
- Purchases in final quarter seen rising to highest since 2012
- Declining prices help drive demand from India to China
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Gold purchases in India are poised to climb in the final quarter to the highest level since 2012, adding to signs that lower prices are spurring a resurgence of buying in Asia.
Demand may jump as much as 15 percent from a year earlier, said Bachhraj Bamalwa, a director with the All India Gems & Jewellery Trade Federation. That’d increase consumption to about 230 tons, the highest for the quarter since 261.9 tons in 2012, World Gold Council data show. India vies with China as the world’s biggest gold consumer.