India has had a stellar run versus emerging markets since 2020 and the outperformance was huge. With China providing some hope, there was some rotation towards China in the early part of 2023, which proved short-lived.
India’s gold consumption is projected to drop to 650–700 tonnes this year as a sharp price rally hurts jewellery demand. Investment buying remains strong, with
Federal Reserve President John Williams told CNBC on Friday he does not see an imminent need to follow last week’s interest rate cut with another
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