Rumors continue to swirl about a big drop in consumer gold demand in India. Yesterday an article appeared in the Business Standard stating gold imports have plunged 25%, according to a mysterious “person familiar with the information.”
This would be on the extreme side of consistent with earlier reports about India’s drop in demand, much of which has been attributed to the country’s recently revised tax structure and currency control efforts. Now pundits are pointing at a new reason for the drop in Indian demand – it seems something else has grabbed the interest of millenial consumers who are comprising ever-larger percentages of the marketplace.
To find out what that is, you’ll have to read today’s featured article. We certainly don’t want to steal anyone’s thunder. Once you see what it is leave a comment below and let us know if you agree!