Press Esc to close
Saturday 26 July 2014
News updated at 1:47 AM IST
Weather
Max: 28.5°C
Min : 19.8°C
In Bangalore
Sunny day

Gold demand in India rises by 27% in Jan-Mar: WGC

New Delhi, May 16, 2013 (PTI)
File image: AP

Gold demand in India, the world's largest consumer, rose by 27 per cent to 256.5 tonnes in the first quarter of 2013, World Gold Council (WGC) said today.

The demand for the precious metal stood at 202.1 tonnes in the same quarter last year, it said.

"Gold demand in India for both jewellery and investment continues to remain strong. The price fluctuations in gold recently have only served to reinforce Indian consumers' appetite for purchasing physical gold," WGC India Managing Director Somasundaram PR told reporters here.


He said gold is a time-tested asset class which has helped preserve the wealth of Indian families for generations.

"With the ongoing wedding and festive season, we believe that demand for gold will continue to remain robust," he said.

In terms of value, WGC said in its latest report that gold demand in India during January- March period of this year increased by 32 per cent to Rs 72,899.4 crore as against Rs 55,148.7 crore in the year-ago period.

Total jewellery demand rose by 15 per cent to 159.5 tonnes from 138.3 tonnes, while investment demand increased by 52 per cent to 97 tonnes from 63.8 tonnes in the review period.

A total of 21 tonnes of gold was recycled in the January- March quarter of this year as against 25 tonnes in the same quarter of 2012, the report said.

The global gold demand in the first quarter of 2013 fell by 13 per cent to 963 tonnes as strong growth in consumer demand for gold jewellery, bars and coins was exceeded by substantial net outflows from gold ETFs, WGC said.

Go to Top

Photo Gallery
Actor Akshay Kumar at an event in Gurgaon...

Actor Akshay Kumar at an event in Gurgaon...

Owner of Jaipur Pink Panther Kabaddi Team Abhishek Bachchan during a promotional event...

Owner of Jaipur Pink Panther Kabaddi Team Abhishek Bachchan during a promotional event...

Sand sculpture with a message “Stop War” at Puri beach of Odisha...

Sand sculpture with a message “Stop War” at Puri beach of Odisha...

A villager on his way to collect drinking water wades through flood waters carrying a vessel...

A villager on his way to collect drinking water wades through flood waters carrying a vessel...

Muslims burn a flag of Israel as they protest against Israel's attack on Gaza, after friday...

Muslims burn a flag of Israel as they protest against Israel's attack on Gaza, after friday...

Army jawans lighting lamps at 'Kargil war Wall Memorial' to pay tribute during the celebrations...

Army jawans lighting lamps at 'Kargil war Wall Memorial' to pay tribute during the celebrations...

Ancient passage stairs found during the underground Jaipur Metro train work at Choti Chopad...

Ancient passage stairs found during the underground Jaipur Metro train work at Choti Chopad...

Gold Medalist India's Abhinav Bindra, Silver Medalist Abdullah Baki of Bangladesh...

Gold Medalist India's Abhinav Bindra, Silver Medalist Abdullah Baki of Bangladesh...

A Malaysia Airlines crew member places a flower next to candles forming the letters MH17...

A Malaysia Airlines crew member places a flower next to candles forming the letters MH17...

Boats head out to the mouth of St. Johns River at dawn during the start of the Greater...

Boats head out to the mouth of St. Johns River at dawn during the start of the Greater...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523