India's gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council.
The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand.
India's gold demand in value terms rose 20 per cent on an annual basis to Rs 75,470 crore during the January-March period of this year on volume growth as well as a rise in quarterly average prices by 11 per cent.
On Tuesday, the World Gold Council (WGC) released its global report 'Gold Demand Trends Q1 2024, showing that India's total gold demand, including both jewellery and investment, increased to 136.6 tonne in January-March this year from 126.3 tonne in the year-ago period.
Out of the total gold demand, the jewellery demand in India increased 4 per cent to 95.5 tonne from 91.9 tonne. The total investment demand (in the form of bar, coin among others) grew 19 per cent to 41.1 tonne from 34.4 tonne.
Sachin Jain, Regional CEO, India, WGC, said the rise in gold demand reaffirms Indians' enduring relationship with gold.
This story is from the May 01, 2024 edition of Millennium Post Delhi.
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This story is from the May 01, 2024 edition of Millennium Post Delhi.
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