India: Gold Jewelry Demand Will Reach US $32 Billion In 2015.

According to ICRA of the rating agency, the demand for gold ornaments in India will increase by 10% to 32 billion US dollars in 2015, due to the improvement of consumer confidence.

The government unexpectedly relaxed the restrictions on import of gold and abolished the rules of 80:20. A large number of inventories reduced imports in December 2014.

Expected to be affected by the US dollar and oil prices, the future price of gold will remain within the current fluctuation range of gold price, but the actual demand of China and India will push up the price of gold.

According to a recent report, according to a report issued by ICRA (Internet Content Rating Association), India gold demand will grow by 10% in 2015, reaching 32 billion US dollars, thanks to the improvement of consumer confidence.

ICRA, who accepted the India gold ornaments retail industry survey, said: "in 2014,

After weak performance, we expect that demand for gold ornaments in India will grow by 10% to $32 billion in 2015. "

ICRA said that since the fourth quarter of 2013, India was right.

Demand has stabilized.

Regulatory relaxation and improved consumer sentiment are expected to boost demand for gold jewelry in the coming months.

According to the report, the demand for gold jewelry in the last quarter of 2014 will make up for the initial downturn in demand. It is estimated that gold demand will reach 29 billion dollars in 2014.

In 2013, the retail demand for gold jewelry in India amounted to US $1 billion.

However, price pressures have made consumers reluctant to make a move. One of the biggest concerns of jewelers is that some jewellers believe that restrictive policies are being introduced again and that bottlenecks are the other factors that need to be worried in the near future.

The volatility of gold prices and prudent financial policies are the direct challenges facing the industry.

India's gold imports will remain stable, but since then, the India government has abolished the 80:20 rules, that is, trading companies must re export the rules of imported gold 20%.

ICRA said the industry believes gold prices will rebound, while the strong US dollar, falling crude oil prices and low inflation will keep gold prices in the current range.

However, the actual demand of China and India may push up the price of gold in India, reflecting their anticipation of the strength of their currencies.