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Gold recycling shoot-up by 88% in 1Q YoY   In the context of India Demand Statistics for Q1 2022 (January – March) & by reviewing  Gold demand full year January – March 2022; Somasundaram PR, Regional CEO, India, World Gold Council said, After rising to record levels in Q4 2021, India’s gold Jewellery demand fell by 26% y-o-y in Q1 2022 to 94 tonnes.   Since 2010, barring the pandemic periods, this is only the third time the Q1 total has been below 100 tonnes.  Fewer auspicious days coupled with a sharp rise in gold prices meant fewer weddings and a pause in retail demand, with households postponing gold buying in anticipation of a price correction.   Investment demand, primarily gold bars and coins, however, grew 5% to 41 tonnes, rising prices and volatility in equity markets acting as support. With safe-haven demand and rupee depreciation pushing gold prices above Rs.50,000/10g, discussions with trade revealed that most of the buying was lower ticket items such as 10g and b

Investment demand for gold bars and coins by 51%   WGC India announces India Gold Demand Statistics for Q3 2020 (July - September). Speaking about India Gold Demand Statistics for Q3 2020, Somasundaram PR, Managing Director, India, World Gold Council said, India’s Q3 2020 gold demand fell by 30% to 86.6 tonnes on the back of Covid related disruptions, bleak consumer sentiment and high prices accompanied by volatility.   This is, however, higher than Q2 which at 64 tonnes was a 70% drop and the second lowest in our quarterly series. This has been partially due to easing of lock down and some low prices in August that provided a small window of buying opportunities for the discerning.   Q3 tends to be relatively low generally due to seasonal factors like monsoons and inauspicious periods like Pitru-Paksh and Adhik Maas. Jewellery demand fell by 48% to 52.8 tonnes as jewellery purchases did not have any support of festivals or weddings. On the other hand, gold’s safe haven attribute

Fall in local gold prices Triggered Q1 gold demand Recently World Gold Council addressed India Gold Demand Statistics for Q1 2019 (January – March) in Mumbai. Somasundaram PR, Managing Director, India, World Gold Council said: “The strengthening of the rupee and the fall in local gold prices towards the later part of the quarter triggered a rise in India’s gold demand by 5% in Q1 2019 to 159 tonnes. Growth of 5% in Indian jewellery demand to 125.4 tonnes uplifted global demand and boosted retail sentiment. The increase in auspicious wedding days in Q1 2019 - three times as many as those in the first quarter in 2018 - was also crucial to the rise in gold demand. The stronger rupee also benefited investors, with demand for gold bars and coins rising by 4% to 33.6t in the first quarter. While yet a nascent trend, digital platforms for buying gold continue to become popular, as internet investment gold providers forge effective market partnerships with UPI platforms and