India Retail Gold Sales Are Significantly Down

international gold
Written by Mike Hammer

We’re toward the end of the Indian big-gold-demand season, and sales are reportedly down as much as 70% over last year.  It’s not unusual for sales to fluctuate year-to-year, but the drop this year has to be termed “completely unexpected.”

Reasons cited for the drop include lower wages due to low agricultural prices, higher taxes, and shifting gifting demands toward electronics, especially mobile phones. Your Gold Enthusiast would add the crash in the Indian rupee in 2018, which effects are still being felt, especially in poorer parts of the country. Indian retail gold demand is traditionally the largest variable in gold sales; if this drop continues that title may shift to the Middle East, or China.  Today’s featured article gives more of this story, which we’ll continue to keep our eye on.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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