Gold demand in India has declined by 36 per cent in the January-March quarter between lockdown and corona crisis. According to a report, demand for gold declined to 101.9 tonnes in the January-March quarter due to volatile gold prices, economic uncertainties and a nationwide lockdown due to the Corona Virus epidemic. The demand for investment in jewelery and gold has also declined in the first quarter of the calendar year.

According to the World Gold Council (WGC) first-quarter Gold Demand Trends report on this matter, gold demand in India decreased by 20 per cent to Rs 37,580 crore during the first quarter by value, from Rs 47,000 crore in the same period of 2019. 

In its statement, Somsundram PR, managing director of WGC India, said that during the first quarter of this year, gold prices jumped by 25 per cent and its average price reached Rs 36,875 per 10 grams. Custom duty and tax have not been added to this. He told that in the same period of 2019, the average price of gold was Rs 29,555 per 10 grams.

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