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India’s gold demand dips 18% to 131 tonnes in April-June

12 Aug 2016 Evaluate

The demand of gold in the country in second quarter this year fell by 18% and stood to 131 tonnes on account of rise in prices, government regulations and jewellers’ strike. The total gold demand stood at 159.8 tonnes in the corresponding quarter last year. As per data compiled by World Gold Council (WGC), in value terms, India’s gold demand for April-June period dropped by 8.7% to Rs 35,500 crore compared with Rs 38,890 crore in the corresponding quarter of 2015.

The total jewellery demand in India during the period was down by 20% to 97.9 tonnes compared with 122.1 tonnes in the same quarter of 2015. In value terms, jewellery demand was at Rs 26,520 crore, a fall of 10.8% from Rs 29,720 crore in the second quarter of 2015.

Total investment demand for the June quarter was down by 12% at 33.1 tonnes against 37.7 tonnes in same period last year. In value terms, gold investment demand was Rs 8,980 crore, a drop of 2.1% from Rs 9,170 crore in Q2 2015. During the quarter under review, total gold recycled also declined to 23.8 tonnes from 24.0 tonnes a year ago.


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