WGC pegs drop of 5% in gold demand in April-June quarter
The World Gold Council (WGC) pegged a drop of 5% in gold demand in the April – June 2024 quarter at 149.7 tonnes.
The World Gold Council (WGC) pegged a drop of 5% in gold demand in the April – June 2024 quarter at 149.7 tonnes.
Online jewellery sales in India have seen rapid growth over the past few years, largely driven by demand from millennials amid growing internet penetration, World Gold Council said. Most online sales, it said, are driven by consumers aged between 18 and 45 and while online jewellery purchases have risen, the average ticket size has, however, remained between 5 and 10 grams.
Going forward, the WGC estimates jewellery demand in the range of 1,600 to 1,800 tonne for the year, well above 2020 levels but below its five-year average.
His association represents about three lakh industry stakeholders. Gem and Jewellery Council vice-chairman Saiyam Mehra pointed to Covid-19 related travel restrictions that have worsened hallmarking logistics.
The total investment demand increased significantly by 98 per cent to 582.9 tonne during the quarter, compared to 295 tonne in the same quarter of 2019.
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