India's gold demand up 37% YoY in March qtr; global demand dips 23%: WGC

The next phase of gold demand - in the second half of 2021 - will not be driven by fear, but by economic growth, WGC said

Demand for gold in India in the January – March 2021 quarter (Q4FY21 / Q1CY21) surged 37 per cent to 140 tonne as compared to the previous corresponding period, said World Gold Council (WGC) in its latest release on Thursday. In value terms, the demand was higher by 57 per cent year-on-year (YoY) at Rs 58,800 crore during the period under review, it said.

The demand in India during the March 2021 quarter is in stark contrast to the demand globally, which dropped 23 per cent YoY to 815.7 tonne, mainly driven by outflows of gold-backed exchange-traded funds (ETFs) and