According to WGC data, gold demand was 102 tons in the first quarter of the year 2020. Gold demand rose by 57 percent to Rs 58,800 crore in the first quarter in terms of value.
The second web of Corona in the country is at its peak. From the general public, the second web of Corona has kept the government in worry. But after the first web of Corona, people invested heavily in gold due to economic activities opening between January and March and the fear of corona decreasing in the people. Also, during this time, the purchase of jewelery was also fierce. According to the report of the World Gold Council, gold demand in India increased by 37 percent to 140 tonnes during the January-March 2021 quarter from the same period last year. In fact, during January-March, there was a spurt in demand due to relief in the tightness related to COVID-19, softening of the price of gold and the suppressed demand.
According to WGC data, gold demand was 102 tons in the first quarter of the year 2020. Gold demand rose by 57 percent to Rs 58,800 crore in the first quarter in terms of value. Which was Rs 37,580 crore in the same quarter a year ago.
Increased demand for jewelry
During January-March 2020, the total demand for gold jewelery increased by 39 percent to 102.5 tonnes. It was 73.9 tonnes a year ago. If we talk about the price, the demand for jewelery increased by 58 per cent to Rs 43,100 crore as against Rs 27,230 crore last year.
Investment in gold increased by 34 percent
During this period, investment demand in gold increased by 34 percent to 37.5 tons as compared to 28.1 tons last year. On the other hand, in terms of value, it increased by 53 percent to Rs 15,780 crore as compared to a year ago, which was Rs 10,350 crore last year.
Gold has become cheaper by 9000 rupees since August
During the peak of the first phase of Corona, gold prices had gone to their record level. In August, gold touched a record high of 56000, but after that, it has come down from about 47 to 48000. That is, since August, gold prices have fallen by about 9000 rupees. However, there has been a spurt in the prices of gold in April and in the month of April, gold has risen by about 4000 rupees.
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