How will higher gold price, COVID-19 impact Diwali's gold demand?

How will higher gold price, COVID-19 impact Diwali’s gold demand?

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) It’s almost time to celebrate Diwali, known as the Festival of Light, during which it is a tradition to purchase gold. But how will the coronavirus pandemic and high prices dent demand this year?

Diwali always grabs markets’ attention and this year’s celebrations begin on Friday with Dhanteras — the most auspicious day to buy gold jewelry for Hindus, which is dedicated to Lakshmi, the Hindu goddess of wealth and prosperity.

"The ‘Festival of Lights’ goes back thousands of years and marks the start of the Hindu New Year; it is a Lunar Festival and falls either in October or November," said Rhona O’Connell, head of market analysis for EMEA and Asia regions at StoneX. "The first day of […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet