Gold demand soars 94% in H1 2010: WGC

India's total demand for gold rose by 94 per cent to 365 tonnes in H1 2010 as compared to 188.4 tonnes in H1 2009, the World Gold Council (WGC) said in a statement here.

"Demand for gold in India rose by 94 per cent to 365 tonnes in H1 2010 as compared to 188.4 tonnes in H1 2009 clearly indicating that there has been a rebound in demand as compared to the previous year," WGC said.

Total gold jewellery demand in India remained robust in H1 2010. The volume of growth increased 67 per cent to 272.5 tonnes as compared to 163 tonnes in H1 2009.

In rupee value terms, demand increased to Rs 45,700 crore an increase of 94 per cent.

The volume of gold in investments has been very strong and grew by 264 per cent to 92.5 tonnes in H1 2010 as compared to 25.4 tonnes in the corresponding period.

In terms of value, investments accounted for Rs 14,800 crore in H1 2010 as compared to Rs 3,700 crore in H1 2009, an increase of 300 per cent.

2010 has been a year, which clearly indicates diversity of gold. As the year has progressed, the Indian gold market has grown significantly.

This therefore ensures that gold retains its intrinsic appeal, the release said.

In value terms, India's gold demand grew from Rs 27,300 crore to Rs 60,500 crore, up 122 per cent.