India had high demand for gold in second wave, demand increased to 76.1 tonnes in April-June quarter

The World Gold Council (WGC) has reported that gold demand in India increased by 19.2 per cent to 76.1 tonnes in the April-June quarter of this year, mainly due to the low base effect. Significantly, last year, economic activity was badly affected by a nationwide lockdown.

According to the WGC report, “gold demand trends in Q22021 and total gold demand in Q22020 are 63.8 tonnes. In terms of value, gold demand in India rose by 23 per cent to Rs 32,810 crore, the report said. 26,600 crore in the same period of 2020.

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According to the report, the second wave outbreak of Kovid-19 resulted in a 46 percent drop in demand compared to the previous quarter. Similarly, the total demand for the first half of the current year was 157.6 tonnes, up from 46 percent in the first half of 2019.

Somasundaram, the regional head of India at WGC, told PTI, “Regional lockdown was imposed in the second quarter of 2021 due to an increase in cases of Covid-19 infection, but last year a strict lockdown was implemented across the country.” Is gone. This quarter was great because businesses were more prepared. According to the report, global gold demand fell one percent in the April-June quarter compared to the same period last year and stood at 955.1 tonnes.

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