Demand StumblesDemand in the second-biggest gold consuming nation had bounced back in the first three months of 2021 from a more than two-decade low last year on softening gold prices and a sharp pick-up in economic activity.
That recovery has faltered as surging infections force many states to impose lockdown-like curbs.“With the evolving on-ground situation and individual concerns, the overall sentiment in India is not favorable with customers hesitating to step out of their homes," Ramesh Kalyanaraman, executive director at Kalyan Jewellers India Ltd.