Cooler price pushes India gold demand 5% in Q1, more glitter likely ahead

May rise further on account of Akshaya Tritiya, wedding season

Gold demand in India jumped by 5 per cent in the January-March 2019 quarter due to a fall in gold prices towards the end after demand headwinds in the initial days of the quarter.

The periodical “Gold Demand Trend” (GDT), released by the World Gold Council (WGC), reported India’s gold demand at 159 tonnes for the first quarter of the calendar year 2019 compared to 151.5 tonnes posted in the corresponding period last year.

“The strengthening of the rupee and the fall in the local gold prices towards the later part of the quarter triggered a rise in India’s gold demand by