💨 Abstract

Gold prices surged to a record peak, dashing Indian bullion industry's hopes for a profitable festival season. A 6% import duty cut two months ago boosted expectations, but rising prices before the festivals could lead to a 20% drop in demand. Consumers are opting for affordable jewelry and spreading purchases throughout the year rather than buying during special occasions.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖