Indians are stocking up on gold, jewellery demand soars 41% in Q2CY17: WGC

Given the implementation of GST, WGC expects the demand for gold jewellery to remain muted in the se

India’s insatiable appetite for gold jewellery was evident once again in the second quarter of calendar year 2017 (Q2CY17). The total demand for gold jewellery surged to 126.7 tonnes, rising 41% as compared to the previous corresponding period, suggests the latest report by the World Gold Council titled ‘Gold Demand Trends Q2 2017’. 

At a global level, the overall demand for gold jewellery in Q2’17 surged 8% year-on-year (y-o-y) to 480.8 tonnes, the report says.

 

The strong recovery, WGC believes, had been widely