While jewellery demand at 102.5 tonnes during the quarter was up 39%, investment demand at 37.5 tonnes was up 34% compared to the first quarter of 2020
(This story originally appeared in on Apr 30, 2021)MUMBAI: Pent-up demand for the yellow metal after months of lockdown in 2020 and an appreciating rupee, which saw its price stabilise in the first three months of 2021, helped demand for gold in India rise 37 per cent during the January-March quarter this year (Q1 2021).
During the period, total demand for gold was 140 tonne compared to 102 tonne during the same period of 2020 (Q1 2020). According to data released by World Gold Council on Thursday, while jewellery demand during Q1 2021 rose by 39 per cent, investment demand, which includes bars, biscuits, e-gold and ETFs, rose 34 per cent.
The quarter also witnessed a deluge of gold imports into India at 301 tonne, a jump of more than 3.5 times over Q1 2020 figure of 83.1 tonne as jewellers were expecting the surge in demand to continue into Q2 2021. However, the recent lockdowns in several parts of the country could dampen the same for a few weeks, said Somasundaram P R, MD (
Nifty futures on the Singapore Exchange traded 191 points, or 1.28 per cent, lower at 14734.7 in signs that Dalal Street was headed for a negative start on Friday.
Gold demand rises 37% to 140 tonne in Jan-March 2021
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Gold demand rises 37% to 140 tonne in Jan-March 2021
TNN / Updated: Apr 30, 2021, 15:17 IST
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Mumbai: Pent-up demand for the yellow metal after months of lockdown in 2020 and an appreciating rupee, which saw its price stabilise in the first three months of 2021, helped demand for gold in India rise 37% during the January-March quarter this year (Q1 2021).
During the period, total demand for gold was 140 tonne compared to 102 tonne during the same period of 2020 (Q1 2020). According to data released by World Gold Council on Thursday, while jewellery demand during Q1 2021 rose by 39%, investment demand, which includes bars, biscuits, e-gold and ETFs, rose 34%.