The World Gold Council (WGC) in its latest report has said that gold demand of India decreased by around 8% to 187.2 tonnes during April-June period of 2018, as compared to demand of 202.6 tonnes in the second quarter of 2017. In value terms, gold demand was Rs 52,692 crore, almost same as the second quarter of 2017 at Rs 52,750 crore.
The report titled ‘Gold Demand Trends Q2 2018’ stated total jewellery demand also declined by 8% during the quarter 147.9 tonnes compared to 161 tonnes in the same period last year. While in value terms, jewellery demand was down by 1% at Rs 41,631 crore against Rs 41,925 crore in the same period last year.
According to the report, total investment demand slipped 5% at 39.3 tonnes compared with 41.6 tonnes in the same period in 2017. Meanwhile, the report said, the total gold recycled in India during the second quarter was of 2018 was 32 tonnes, was up by 8% compared to 29.6 tonnes in the same period last year.