According to the report, due to the outbreak of the second wave of COVID-19, there was a decline of 46 percent in demand compared to the previous quarter. Similarly, in the first half of the current year, the total demand was 157.6 tonnes, which was 46 percent compared to the first half of 2019.
Demand for gold increased in the whole world including India
The World Gold Council (WGC) said in a report that gold demand in India grew by 19.2 per cent to 76.1 tonnes during the April-June quarter this year, mainly due to lower base effect. In fact, economic activities were badly affected last year due to the nationwide lockdown. According to the WGC report ‘Gold demand trends in the second quarter of 2021’, the total gold demand in the second quarter of the calendar year 2020 was 63.8 tonnes.
The World Gold Council report said that the demand for gold in India in terms of value increased by 23 per cent to Rs 32,810 crore in the period under review from Rs 26,600 crore in the corresponding period of 2020.
Total demand stood at 157 tonnes in the first half
According to the report, due to the outbreak of the second wave of COVID-19, there was a decline of 46 percent in demand compared to the previous quarter. Similarly, in the first half of the current year, the total demand was 157.6 tonnes, which was 46 percent compared to the first half of 2019.
Effect of relaxation in lockdown
WGC’s India Regional CEO Somasundaram PR told PTI-language, “Lockdown was imposed on a regional basis in the second quarter of 2021 due to the increase in the cases of COVID-19 infection, whereas last year strict lockdown was implemented across the country.” had gone. This quarter is also better because businesses were more prepared. According to the report, global gold demand declined by one percent in the April-June quarter compared to the same period last year and stood at 955.1 tonnes.
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