Analysts expect demand for gold in India to surge in the second half of the year thanks to a good outlook for farmers.
A good start to the rainy season along with higher minimum support (MSP) for summer crops should boost the gold trade, according to a report in the Economic Times of India. Analysts expect a 25% increase in gold demand compared to the second half of last year.
Analysts say demand for gold in India will likely rise in the second half of the year thanks to a good monsoon season. Increasing demand for gold in the world’s second-largest market could help boost overall global demand for the yellow metal.
According to NDTV, monsoon rains hit Kerela at the end of May. This was a few days earlier than usual and bolstered an optimistic outlook for agricultural and economic output.
