India's demand hits pre-pandemic levels; Q3 up 14% to 191.7 tonnes: World Gold Council
The Hindu
According to the 'Gold Demand Trends Q3 2022' report by World Gold Council, the total demand stood at 168 tonnes during the July-September quarter of 2021.
India's gold demand has reached pre-pandemic levels and has witnessed an annual growth of 14% during the July-September quarter at 191.7 tonnes mainly driven by strong consumer interest, according to a World Gold Council (WGC) report.
According to the 'Gold Demand Trends Q3 2022' report by WGC, the total demand stood at 168 tonnes during the July-September quarter of 2021.
In value terms, gold demand grew by 19% to ₹85,010 crore during the third quarter of 2022, compared to ₹71,630 crore in the corresponding period of 2021.
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India's total gold demand in the third quarter of 2022 at 191.7 tonnes is a 14% increase over last year, which reflects better-than-expected performance and strong consumer interest, helping year-to-date demand return to pre-COVID levels, Somasundaram P.R., Regional CEO, India, World Gold Council told PTI.
Meanwhile, total jewellery demand in India during the third quarter increased by 17% at 146.2 tonnes, compared to 125.1 tonnes in the same period last year.
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