Following PM Narendra Modi's appeal to abstain from buying gold for a year to save foreign exchange reserves, gold demand in India has plummeted by 70%. In just 23 days, sales dropped from 25 tonnes to 7.5 tonnes. While prices initially fell, the government's decision to hike import duty from 6% to 15% pushed rates back up to ₹1,58,350. Major jewelry stocks like Titan and Kalyan Jewelers saw a 6-9% decline. Consumers are now shifting towards reusing old jewelry or renting ornaments instead of making new purchases. https://punjab.news18.com/photogallery/national/modi-gold-demand-curb-call-market-demand-falls-by-70-percent-tc-974514.html #Creator program