Higher gold prices may not weaken festive demand: Regulatory body

Indian Association for Gold Excellence and Standards CEO Kaushlendra Sinha said higher gold prices are unlikely to derail jewellery demand during the upcoming festive and wedding season. Tier-2 and tier-3 cities are gaining traction as organised retailers expand into smaller markets, he added. On Monday, gold prices hit a three-month high, with bullion rising 1.2% to cross ₹4.45 lakh/31 grams.