19.7 percent gold demands increased in India

Sunbd Desk , Published: 2021-08-01 09:45:24, Updated: 2021-08-01 09:45:24

Demand for the precious metal gold has increased in India despite the severity of the ongoing epidemic. In the second quarter of this year (April-June), the country’s gold demand increased by 19.2 percent to 76.1 tons. The World Gold Council (WGC) said in a report.

India is currently the world’s top gold consumer. As a result of the outbreak of the Corona epidemic last year, various restrictions were imposed, including lockdowns across the country. Since then, there has been a shortage of gold in the country. As a result, the demand for the precious metal continues to grow. In the second quarter of last year, the demand for gold in India was 63.6 tons.

In the second quarter of this year, demand for the metal increased in terms of quantity as well as price. As of April-June last year, India had a gold demand of Rs 26,600 crore. During the same period this year, the demand has increased to Rs 32,810 crore. As a result, demand has increased by 23 percent. However, demand in the second quarter fell by 46 percent compared to the first quarter of this year due to the second wave hitting the Corona.

Sunbd/NJ