Along with India, the global demand for gold has also gone up. For March quarter, the demand witnessed a spike of 3 per cent to 1,238 tonnes making January-March 2024, the strongest quarter after 2016.
Overall demand stood at 94.6 tonnes during the September quarter of 2020, according to the World Gold Council. It said that in terms of value, India's third-quarter gold demand went up by 37% to Rs 59,330 crore, compared to Rs 43,160 crore a year ago.
"Demand for gold in India for Q2 2021 was at 76.1 tonne, increase by 19.2 per cent as compared to overall Q2 demand for 2020 (63.8 tonne)," it said.
The report noted that jewellery demand improved from the Q2 record low, the combination of continued social restrictions, economic slowdown and a strong gold price continued to impact demand from jewellery buyers.
In value terms, the gold demand declined by 30 per cent at Rs 38,540 crore, compared to Rs 55,390 crore in the same period of 2016.
Gold demand in India jumped by 37 per cent to 167.4 tonnes during the second quarter of 2017, buoyed by seasonal demand and improved rural sentiment, the World Gold Council (WGC) said in a report
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