India Gold Demand Deen Muted In H2 On GST

Gold demand in India could be muted in the second half of 2017, as the rollout of the new Goods and Services tax (GST) from July is expected to dent appetite in the world’s second-biggest consumer, the World Gold Council (WGC) said on Thursday. But sales are likely to be robust during the first six months of the year, the WGC said.
Gold consumption in the first quarter of 2017 rose 15 percent to 123.5 tonnes on pent-up demand from jewellers as retail consumers ramped up purchases for weddings, the WGC said in a report published on Thursday.
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