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14 May 2015
Indian gold demand likely to rise in second quarter – WGC
FXStreet (India) - The World Gold Council (WGC) on Thursday said the Indian demand for gold is likely to rise in Apr-June quarter on the back of buying during a major festival, lower prices and robust economic growth.
"Every quarter is going to be higher than the previous ones this year because GDP growth is expected to be higher and gold prices have come down," said Somasundaram PR, managing director of WGC's India operations.
In the first quarter of calendar year 2015, India’s jewellery demand 22% to 150.8 tonnes. However, the investment demand fell to a six-year low, which is more or less in line with the global trend. India's total gold demand rose 15 percent to 192 tonnes in the first quarter, the WGC's quarterly demand report released on Thursday showed.
WGC maintained its demand estimate for both India and China at 900-1,000 tonnes in 2015.
"Every quarter is going to be higher than the previous ones this year because GDP growth is expected to be higher and gold prices have come down," said Somasundaram PR, managing director of WGC's India operations.
In the first quarter of calendar year 2015, India’s jewellery demand 22% to 150.8 tonnes. However, the investment demand fell to a six-year low, which is more or less in line with the global trend. India's total gold demand rose 15 percent to 192 tonnes in the first quarter, the WGC's quarterly demand report released on Thursday showed.
WGC maintained its demand estimate for both India and China at 900-1,000 tonnes in 2015.