A Study on Consumer Purchase Behaviour of Gold Before and During the Pandemic

India’s gold industry is important to its policymakers because of its driving demand in economic growth, affinity of population with gold, change in shape of consumer demand due to urbanization and organized growth of industry. With much of the global economy now stymied by some from lockdown due to coronavirus pandemic, world GDP is expected to contract by almost 4% in 2020 – more than three times the decline seen during the Global Financial Crisis of 2008. Whereas gold’s strong return in 2020 is supported by rising market risk and uncertainty, lower opportunity costs and the momentum impact of a strong positive performance in 2019. The COVID – 19 pandemic and ensuring economic lockdowns would likely to be supportive of consumer demand on gold performance. Gold’s behavior may demand on the speed of recovery and the duration of monetary policy and fiscal stimuli.