NEW DELHI: 11th August 2016
Demand for gold in India, the second largest consumer of growth, born twenty per cent to ninety seven.9 tonnes among the 3 months of the June quarter, whereas in China, the biggest consumer to this purpose, it degrew eighteen per cent as gold prices rose vi per cent in dollar terms and eleven per cent in rupee terms.
According to the newest report of the earth Gold Council (WGC), gold jewellery demand in asian country stood at ninety seven.9 tonnes in Q2, trailing China’s demand for 143.50 tonnes throughout the quarter.
Overall, consumer demand for gold in country stood at 131 tonnes (down eighteen per cent YoY) against 183.7 tonnes in China (down fourteen per cent). among the first six months of the continued calendar, gold prices have rallied twenty 5 per cent, the biggest worth gain since 1980.
“That said, Associate in Nursing optimism must be tempered with selection of} the headwinds that stay in place in an exceedingly variety of markets, love the economic retardation in China, pressure on rural gain in country and a troubled politics climate in West Asia,” the council said.
Investment demand for gold stood at one,064 tonnes, that accounted for just about 0.5 the final gold demand throughout the primary six months of 2016. it completely was sixteen per cent on the far side the previous peak among the half of 2009. Demand for ETFs reached nearly 580 tonnes within the initial six months of the yr.