India’s gold demand remained buoyant in 2013 and rose by 13% to 975 tons comparedto 2012, despite government putting in several restrictions to curb imports,according to a World Gold Council report.
MUMBAI – India’s gold demandremained buoyant in 2013 and rose by13% to 975 tons compared to 2012,despite government putting in severalrestrictions to curb imports, accordingto a World Gold Council report.Gold demand in the country was 864tons during 2012, according to datagiven in WGC ‘Gold Demand Trends2013’ report.”India’s gold demand was up 13% in2013, compared to 2012.Demand in the second half was lowerdue to the effect of the supply curbsintroduced in that period, but, equally, itwas due to households having met alarge part of their annual gold requirementsin the first half, using the pricedrop in April as a buying opportunity,”WGC Managing Director IndiaSomasundaram P R told PTI here.The total jewellery demand in the countryin 2013 was up by 11% at 612.7tonne valued at Rs 1,61,750.6 crorecompared to 552 tonne valued at Rs1,58,359.1 crore in 2012.
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