Global gold demand up 7% in Q1; gold jewellery demand in India at 4-yr high

India's demand for gold jewellery hit a four-year high in Q1CY19 at 125.4 tonnes. This, WGC said, helped the overall gold demand for jewellery at the global level inch nearly 1% higher to 530.3 tonnes

The overall demand for gold at the global level surged 7 per cent to 1,053.3 tonnes, led by buying by central banks and exchange traded funds (ETFs), says the latest report on gold demand trends for the first quarter of calendar year 2019 (Q1CY19) by World Gold Council (WGC).

Central banks bought 145.5 tonnes of gold, the largest Q1 increase in global reserves since 2013. “Diversification and a desire for safe, liquid assets were the main drivers of buying here. On a rolling four-quarter basis, gold buying reached a record high for our data series of 715.7 tonnes,” the WGC