India's Gold Demand Tanks 36% In March Quarter

India's Gold demand saw 36% over the year in the January-March quarter of this year to 101.9 tonne, the World Gold Council (WGC) noted in a latest update. According to the World Gold Council's (WGC) Q1 Gold Demand Trends report, in terms of value India's the first quarter gold demand dropped 20% to Rs 37,580 crore. The jewellery demand during the quarter fell by 41% to 73.9 tonne. In value terms, jewellery demand dropped 27% to Rs 27,230 crore. The total investment demand in the first quarter of 2020 was down by 17% at 28.1 tonne. However, soaring prices mean that gold Investment demand in value terms was up by 4% on a year-on-year to Rs 10,350 crore.

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