India's gold demand could fall to three-year low as prices hit record high
Updated : June 26, 2019 11:07 AM IST
Lower purchases by India, the world's second-biggest consumer after China, could limit a rally in global prices that hit a 6-year high earlier this week.
India's gold consumption eased 1.5 percent in 2018 to 760.4 tonnes, below a 10-year average of 838 tonnes, according to data compiled by the World Gold Council.
Local gold prices hit a record Rs 35,960 per 10 grams on Tuesday, having jumped more than 10 percent over the past month.