India gives African gold exporters hope after China’s demand implosion, which has resulted in gold falling over 2% percent this year.
A recent World Bank report forecasts India’s GDP expanding by 7.8% in 2017 and 7.9% the following year.
India’s economy is expected to register growth in areas such as vehicle manufacturing, pharmaceuticals, consumer goods, banking and information technology.
The gold producers’ hope lies in the fact that India influences the gold price as the world’s biggest buyer.
