Spiraling coronavirus cases may cripple demand for gold and jewelry in India, one of the leading global markets for the precious metal, the World Gold Council (WGC) said.
India saw increased purchases of gold in the first three months of the year, with its official imports hitting a decade high of 164 tons in March. It was driven by robust consumer demand, including pent-up demand from weddings postponed from 2020, as well as stock building among the trade ahead of key festivals such as Akshaya Tritiya in May.
