Saun 27, 2072, Gold Price in Nepali Market

Saun 26, 2072, Gold Price in Nepali Market

India set to Become World's Top Gold Consumer in 2015

India is poised to pip China as the world's top consumer of gold in 2015 due to reduced demand for gold in the country due to a rally in stocks and India's projected high economic growth.

"We expect both India and China's gold demand to be in the range of 900-1,000 tonne (in 2015), with India slightly higher than China. This is mainly due to the higher economic growth momentum projected in India and China's lack of momentum, "said Somasundaram PR, World Gold Council (WGC) Managing Director, India, according to Bloomberg TV.

Gold consumption in India is expected to increase by 23 percent to 1,000 tonne this year if the country registers a gross domestic product (GDP growth) of 7.5-8 percent, according to a report by the World Gold Council.