Most consumers are going for token buying of lesser value and are waiting for price correction for purchase of wedding jewellery.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
According to jewellers and MMTC-PAMP India, gold demand has picked up in the wake of good monsoon and favourable price levels. There was positive response and more footfalls.
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
Globally, jewellery buying fell 14%, investment slid 11%.
India has 20,000 tonnes of idle gold; gold is an important aspect of women empowerment: PM.
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