Gold demand rebounds in India but this time it’s not jewellery; yellow metal attracts investors

Gold demand rebounds in India but this time it’s not jewellery; yellow metal attracts investors

While there was a modest sequential recovery of 20 per cent on-quarter in the gold jewellery demand, the demand for gold bars and coins saw a sharp surge in the quarter. India’s gold consumer demand has seen a strong rebound in the July-September quarter, however, investment has a bigger role to play than jewellery in the increased demand. Overall gold consumer demand — including jewellery, bars and coins — witnessed a 35.8 per cent growth to 86.6 tonnes on a quarterly basis, said a report from Motilal Oswal Financial Services . While there was a modest sequential recovery of 20 per cent on-quarter in the gold jewellery demand, the demand for gold bars and coins saw a sharp surge in the quarter. With the continued momentum in gold price rise, consumers perceived gold bars and coins as a lucrative investment option, the report added.

Jewellery demand was more severely affected […]

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