New Delhi: The World Gold Council (WGC) reported that gold demand in India rose 19.2 percent to 76.1 tonnes during the April-June quarter this year, mainly due to low base impact. It may be recalled that economic activity was badly affected due to countrywide lockdown last year. WGC reports that according to the trend of gold demand in the second quarter of 2021, the total demand for gold in the second quarter of the calendar year 2020 was 63.8 tonnes.
The report said that the demand for gold in India in terms of price increased by 23 percent to Rs 32,810 crore in the period under review from Rs 26,600 crore in the same period of 2020. WGC Regional CEO in India Somsundaram PR informed that due to an increase in covid-19 infection cases, the lockdown was imposed on a regional basis in the second quarter of 2021 as compared to strict lockdown imposed across the country last year.
He said this quarter is also better because businesses were more prepared. According to the report, global gold demand declined by one percent in the April-June quarter from the same period last year to 955.1 tonnes.