Millennium Post

India’s yellow metal demand rose 27% in Jan-March: WGC

India’s gold imports dropped by 5.7 per cent to 215 tonnes in the January-March period of 2013, even as its demand rose by 27 per cent to 256.5 tonnes, World Gold Council (WGC) said on Thursday.

The demand for the precious metalwill continue to be robust in the coming months though the government has imposed some curbs on imports, the WGC said, while cautioning any further supply controls will activate unauthorised channels, WGC said.

 Gold import and demand in India, the world’s largest consumer, stood at 228 tonnes and 202.1 tonnes, respectively, in the year-ago period, it said.

Of the total 256.5 tonnes, the country’s jewellery demand rose by 15 per cent to 159.5 tonnes from 138.3 tonnes, while investment demand increased by 52 per cent to 97 tonnes from 63.8 tonnes in the review period.
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