TOKYO/NEW DELHI/SHANGHAI -- India's gold retailers who had put all their hopes on the annual festival season last month have been disappointed by sluggish sales after most parts of the country were locked down to fight an explosion of COVID infections.
They must now pin their hopes on the next big peak period after India's Monsoon season ends, hoping that the COVID crisis eases and that gold prices -- which have rebounded from lows in March -- remain favourable to encourage buying. Demand for gold from Indian buyers usually helps to underpin the gold price.
