Demand for gold bars, coins, and jewellery increased in March quarter. Total gold demand rose due to rising investment interest, positive inflows in gold ETFs, and strong macroeconomic support in India.
Gold prices near record highs could dampen demand in India during the peak festival season and lead to the lowest purchase volumes in three years, the World Gold Council (WGC) said on Tuesday.
Customers buy gold at Phu Quy gold shop in Hanoi. (Photo: VNA)
Hanoi (VNS/VNA) - Vietnam is the largest
gold market in Southeast Asia,
according to a recent study of the World Gold Council (WGC).
The
WGC also announced the country among the
top 10 markets in the world, saying
consumer demand for gold in Vietnam reached 39.8 tonnes in 2020, higher than
the demand of 37.6 tonnes in Indonesia and 9.4 tonnes in Singapore.
The
study of 2,000 local investors in March last year also said gold is the top
asset class for 68 percent of Vietnamese investors while the outlook for the
precious metal was positive, adding 81 percent of people who bought gold
According to the World Gold Council’s latest Gold Demand Trends report, gold investment demand fell in Q1 due to being driven by hefty outflows in gold-backed exchange-traded funds (ETFs). This was attributed to growing expectations of higher interest rates impacted sentiment. While Q1’s overall .
The average domestic gold price of Rs 47,131 per10 gm was 14 pc higher in Q1.
India s Q1 gold demand up 37 pc at 140 tonnes: WGC ANI | Updated: Apr 29, 2021 13:46 IST
Mumbai (Maharashtra) [India], April 29 (ANI): Demand for gold in India bounced back during the January to March period to clock a growth of 37 per cent at 140 tonnes compared to the same quarter of 2020, the World Gold Council (WGC) said on Thursday.
The gold demand value in Q1 2021 was Rs 58,800 crore, marking an increase of 57 per cent in comparison with Rs 37,580 crore year-on-year.
Somasundaram P R, Managing Director for India at World Gold Council, said India s Q1 2021 gold demand rose on the back of Covid containment and positive sentiment following start of the vaccination programme.