Business Insight | Demand for gold in India fell by 36%

Business Insight | Demand for gold in India fell by 36% thumbnail
The total investment demand in the first quarter of 2020 was also down by 17 percent. Gold demand in India fell 36 percent in Q1 of this year to 101.9 tonne as per a WGC Report. This fall was seen because of the nationwide lockdown, volatile prices and economic uncertainties due to the coronavirus pandemic.According…

The total investment demand in the first quarter of 2020 was also down by 17 percent.

Gold demand in India fell 36 percent in Q1 of this year to 101.9 tonne as per a WGC Report. This fall was seen because of the nationwide lockdown, volatile prices and economic uncertainties due to the coronavirus pandemic.According to the World Gold Council’s report, India’s January-March quarter saw a fall in gold demand by 20 percent in terms of value to Rs 37,580 crore, compared to Rs 47,000 crore in Q1 2019.The total investment demand in the first quarter of 2020 was also down by 17 percent.Watch the video for more…Moneycontrol Ready ReckonerNow that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.First Anniversary Offer: Subscribe to Moneycontrol PRO’s annual plan for ₹1/- per day for the first year and claim exclusive benefits worth ₹20,000. Coupon code: PRO365
First Published on May 1, 2020 09:44 pm
Read More