GOLD NEWS

Domestic jewellery demand drops 17% in April-June

Wed July 31 2024

The total gold demand in the country declined 5% from 158 tonnes in 2023 to 149.7 tonnes, according to the World Gold Council’s gold demand trends report. However, in value terms it jumped by 14% to Rs 93,850 crore from Rs 82,530 crore. Speaking to TOI, Sachin Jain, regional CEO (India) of World Gold Council said higher prices and general election impacted the demand in the quarter but expected an uptick with the recent cut in

the import duty. “We are already seeing the increase in customer footfalls based on anecdotal evidence. The overall demand for the year will be 700 tonne to 750 tonne by the end of the year,” he said.

“Gold demand will improve in the festive season beginning September and could be further boosted by a healthy monsoon,” Sachin Jain said.

Domestic investment demand for the yellow metal, in bars and coins, stood at 43.1 tonnes in the April- June quarter, 46% higher (YoY) . We also published the following articles recently

Source: https://timesofindia.indiatimes.com/