World Gold Council: Sluggishness In Demand For Gold In 2021

World Gold Council said: There will be sluggishness in the demand for gold this year, the pace will pick up again in 2022.

The World Gold Council (WGC) has said in a report that the demand for gold will remain sluggish in the current year. The WGC has said that Gold Demand will remain sluggish due to the Covid epidemic.

The report said that the country’s households are saving proportionately less and the income related to agriculture has also decreased. Therefore, the demand for gold will see a decline in the short term.

However, it has been said in this report that the demand for gold will pick up once again in 2022.

In a report titled The Drivers of Indian Gold Demand, the WGC has said that due to the prolonged battle with the Kovid-19 epidemic, the demand for gold this year may be much lower than expected.

However, the report said that gold imports will remain strong and as the restrictions related to corona in the country ease, so will its retail demand.

The growth of the economy and the demand for gold will pick up in 2022 if the coronavirus epidemic does not spread again.

The WGC report said that the industry will be seen taking steps towards transparency, as well as its standardization like global markets.

India’s gold market will benefit from positive demographics and socio-economic changes.

According to this report, a major reason for the increase in the demand for gold in the country will be the increasing income of the people.

Somasundaram PR, Regional CEO, India, WGC said, “Gold prices, monsoon, changes in taxes and inflation are factors driving gold demand in the short term.

At the same time, the family income and the fees imposed by the government will affect the demand for gold in the long run.

Reliance Retail bought a 52% stake in this apparel brand company, know who bought it before

Reliance Retail Ventures Ltd. (RRVL) has acquired fashion designer Ritu Kumar’s company Ritika Pvt Ltd. has acquired a 52 percent stake in The amount of the deal has not been disclosed.

The joint statement said that RRVL has acquired Ritika Pvt Ltd. acquired a majority stake in This includes Everstone’s entire 35 percent stake in the company.

Ritu Kumar’s business consists of 4 fashion brand portfolios, Labels Ritu Kumar, The Third Ritu Kumar, Arke, and Ritu Kamar Home & Living. Earlier last week Reliance Brands Ltd.

(RBL) had said that it will acquire a 40 percent stake in MM Styles Pvt Ltd of noted fashion designer Manish Malhotra.