India's Gold Demand Spurts 5% To 159 Tonne In First Quarter

India's gold demand increased 5% to 159 tonne in first quarter of this year, on fall in prices that boosted jewellery sales during wedding season, a World Gold Council (WGC) report stated. The WGC's 'Q1 Gold Demand Trends' report noted that in terms of value, there was a 13% growth during the quarter at Rs 47,010 crore compared to Rs 41,680 crore in the same period last year. A lower rupee gold price in late February/early March coincided with the traditional gold-buying wedding season, lifting jewellery demand in India to 125.4t (+5% y-o-y) - the highest Q1 since 2015.

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