india goldBy Rajendra Jadhav | MUMBAI

Gold demand in India could be muted in the second half of 2017, as the rollout of a new national sales tax from July is expected to dent appetite in the world’s second-biggest consumer, the World Gold Council (WGC) said on Thursday.

But sales are likely to be robust during the first six months of the year, the WGC said.

Gold consumption in the first quarter of 2017 rose 15 percent to 123.5 tonnes on pent-up demand from jewelers as retail consumers ramped up purchases for weddings, the WGC said in a report published on Thursday.

Read more via India gold demand seen muted in H2 on new national sales tax: WGC | Reuters