“As well as, a rise in different discretionary spending on issues like journey attributable to decrease restrictions and a probable discount within the share of jewelry purchases in general wedding ceremony expenditure, which was increased final 12 months attributable to restrictions round gatherings, are additionally components that may have an effect on demand. Rural demand for gold can be more likely to be impacted by unsure monsoons within the present 12 months and better rates of interest on agricultural loans which might dent disposable incomes,” ICRA Senior Vice President and Group Head Jayanta Roy mentioned.
