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Tuesday, October 4, 2022

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Gold Jewellery Demand Likely To Contract In Second And Third Quarters Of FY23

“In addition, an increase in other discretionary spending on things like travel due to lower restrictions and a likely reduction in the share of jewellery purchases in overall wedding expenditure, which was higher last year due to restrictions around gatherings, are also factors that can affect demand. Rural demand for gold is also likely to be impacted by uncertain monsoons in the current year and higher interest rates on agricultural loans which could dent disposable incomes,” ICRA Senior Vice President and Group Head Jayanta Roy said.

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