Appetite for gold soared in the first quarter on pent-up demand after weddings were delayed in 2020 due to the COVID-19 pandemic.
Lower purchases could weigh on gold prices , which have recovered this year and risen 6% so far in 2021. But falling demand for gold imports could help narrow India's trade deficit and support the ailing rupee . Gold consumption typically jumps in the June quarter due to weddings and key festivals such as Akshaya Tritiya, when buying gold is considered auspicious.
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