India’s gold demand declined by 39% during the first quarter of this year at 116.5 tons due to jewellers' strike over re-introduction of excise duty that affected the wedding purchase segment. The total gold demand stood at 191.7 tonnes in the January-March quarter of 2015, as per the data compiled by the World Gold Council (WGC).
India's first quarter gold demand value was Rs.29,900 crore, a 36% decline from the Rs 46,730 crore recorded in same quarter of 2015. The total jewellery demand in India for the period was down by 41% at 88.4 tons as compared to 150.8 tons in first quarter in 2015.
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