Gold Import Rises To Six Year High Due To Festive And Marriage Season, Next Year In 2022 Also Gold Demand To Remain High

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Gold Import at Record High: According to the Hindu Muhurta, the wedding season has ended on December 14 this year. Due to the reduction and relaxation in Corona cases, according to an estimate, between November and December, close to 25 lakh marriages have taken place in the country. Which has benefited the jewelers the most. In the last two years, marriages were getting postponed due to Corona, due to which the business of jewelers was affected. But this year has been great for him.

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gold record import

Due to this wedding season and festive season, there has been a record increase in the import of gold in India. According to the data, this year India has imported 900 tonnes of gold, which is the highest in six years, whereas last year India imported only 350 tonnes of gold. Compared to 2020, the demand for gold has increased due to the softening of gold prices, the return of the economy and the record number of weddings.

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Surge in demand may continue

India ranks second in the world in terms of gold consumption. India is completely dependent on imports for its gold consumption. If the new variant of Corona does not show its effect, then it is believed that there will be record marriages in 2022 as well, due to which there can be a tremendous increase in the demand for gold. It is believed that the demand for gold may continue to rise in the next year as well.

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