India gold prices jump 4.1% in May, defying 1.4% global decline: WGC
Rupee weakness and geopolitical tensions pushed Indian gold up 4.1% in May while global prices slipped 1.4%. WGC flags structurally supportive demand but softer physical offtake, a 60% YoY surge in old-gold exchange, and PM Modi's appeal to defer purchases as near-term headwinds.
Indian gold prices rose 4.1% in May versus a 1.4% global decline, driven by currency weakness and geopolitical tensions. WGC sees India demand structurally supportive but flags softer physical demand and PM Modi's appeal to defer purchases.