About 28 per cent of urban Indians plan to spend on gold in the next three months. This represents a new demand for gold in the event of a weakening of the second wave of the Covid-19.
This information is provided in a survey. Gems and jewelry The year 2020 by the industry The Covid-19 had signaled a recovery in January-March this year due to the ban. However, a second wave of epidemics stopped it.
With the end of the second wave, state governments are slowly easing traffic restrictions and organized retailers are hoping that consumer demand will improve during the festive season this year. According to the Diwali Spending Index by Market Research, spending among urban Indians is on the rise during the festive season and three out of ten urban Indians (28%) plan to spend on gold in the next three months. Data on the Diwali Expenditure Index was collected online by U-Governor Bomnibus from 2,021 respondents across the country representing the adult online population in India during August 17-20.