Press Esc to close
Monday 23 January 2017
News updated at 8:14 PM IST
Weather
Max: 30.3°C
Min : 16.8°C
In Bengaluru
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
Olympic finalist Gymnast Dipa Karmakar being felicitated with Assames japi,Khoria and gomacha...

Olympic finalist Gymnast Dipa Karmakar being felicitated with Assames japi,Khoria and gomacha...

A boat man carries Hindu devotees in the river Yamuna early in the morning during magh Mela in...

A boat man carries Hindu devotees in the river Yamuna early in the morning during magh Mela in...

Austria's Michael Matt speeds down the course during an alpine ski, men's World Cup slalom...

Austria's Michael Matt speeds down the course during an alpine ski, men's World Cup slalom...

Punjab tableaux artists pose a photo during a press preview in New Delhi on Sunday...

Punjab tableaux artists pose a photo during a press preview in New Delhi on Sunday...

AIADMK leader SP Velumani inaugurates Cattle race after the urgent law was passed for...

AIADMK leader SP Velumani inaugurates Cattle race after the urgent law was passed for...

Bollywood actors Madhuri Dixit and Manish Paul atteded the Umang Mumbai Police Show 2017 in...

Bollywood actors Madhuri Dixit and Manish Paul atteded the Umang Mumbai Police Show 2017 in...

Youngstres and Students during the protest to Lift ban on jallikattu and impose ban on PETA...

Youngstres and Students during the protest to Lift ban on jallikattu and impose ban on PETA...

India Captain Virat Kohli celebrate after his 50 runs during 3rd ODI against England at Eden...

India Captain Virat Kohli celebrate after his 50 runs during 3rd ODI against England at Eden...

Rescue and relief work in progress at the site where Jagdalpur-Bhubaneswar Express train derailed...

Rescue and relief work in progress at the site where Jagdalpur-Bhubaneswar Express train derailed...

Samajwadi Party Vice president Kiranmoy Nanda, SP state president Naresh Utam and Congress state...

Samajwadi Party Vice president Kiranmoy Nanda, SP state president Naresh Utam and Congress state...

Like us on Facebook

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