Will the pullback in gold lead to more physical demand in India?

Vikram Dhawan, Head of Commodities and Fund Manager at Nippon Life India Asset Management says high gold prices have hurt physical demand, with volumes down 10–20% despite record value demand in key markets like India and China – but adds that any price correction and stabilization could revive retail buying. He also says the next few months are crucial for demand recovery and price consolidation.