Gold demand has surged in India
Despite the government’s efforts, Indians are rushing to stash metal under the mattress
COVID-19 HIT India hard, leaving millions jobless and struggling to get by. Yet Sachin Rana, who runs a jewellery stall in New Delhi’s Malviya Nagar market, says sales have been booming since lockdowns ended. After months in isolation, consumers were keen for a blowout during Diwali, a festival in November. A bumper wedding season has followed, creating plenty of occasions to wear jewellery or give it as a gift.
This article appeared in the Finance & economics section of the print edition under the headline “Karat and stick”
Finance & economics February 26th 2022
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- America’s tariff wall on Chinese imports looks increasingly like Swiss cheese
- Despite bulging debt everywhere, the IMF is struggling to be helpful
- Gold demand has surged in India
- The battle to modernise Italy's corporate governance
- With maverick policies, Turkey cannot hope to bring down prices
- The many virtues of the yen, the rich world’s cheapest currency
- How to avoid a fatal backlash against globalisation
From the February 26th 2022 edition
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