: Gold demand went up 18 per cent to 248.3 tonnes in the September quarter and in value terms demand was up 53 per cent to Rs 1.65 lakh crore.
In Q3 of 2024, gold demand was up to 248.3 tonnes against 210 tonnes in the year ago quarter and demand value was up 53 per cent to Rs 1.65 lakh crore against Rs 1.
07 lakh crore. Jewellery demand was up 10 per cent up to 171.6 tonnes, while investment demand was up 41 per cent at 76.
7 tonnes. “Sharp cut in gold import duties in July sparked a revival in jewellery demand, which posted its strongest third quarter since 2015 with 10 per cent increase to 171.6 tonnes as compared to 155.
7 tonnes in Q3’ 23. Momentum in consumer demand picked up sharply in late July and remained strong until mid-September. There was a sharp 41 per cent increase in investment demand to 76.
7 tonnes in comparison to 54.5 tonnes in Q3’ 23. Bar and coin demand in India jumped to its highest third quarter since 2012,” said Sachin Jain, Regional CEO, India, World Gold Council.
There was a robust rise of 87 per cent in gold imports in Q3 2024 to 360.2 tonnes, compared to 193 tonnes in Q3’ 23. Moreover, India's recycling demand increased by 22 per cent to 23.
4 tonnes compared to 19.2 tonnes in the corresponding period last year. RBI bought 13 tonnes in Q3, marginally lower than the 18 tonnes it purchased in both Q1 and Q2.
Its gold reserves have now risen to 854 tonnes, 6 per cent higher than at the end of 2023. WGC expects gold demand to remain solid in the.
