Record gold prices to dampen Indian demand in June, Sept quarters -WGC

India’s March quarter gold demand fell 17% to its lowest level in a decade and is expected to remain low during the June and September quarters due to recent record high prices, according to the World Gold Council (WGC). Subdued gold imports threaten to limit any possible rally in global prices, with bullion trading at all-time highs. Lower gold demand could also aid in reducing India’s trade deficit and support the rupee. Two-thirds of India’s gold demand usually originates from rural areas.

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