For the last quarter of 2017, demand for gold was up 2% at 249.3 tonnes compared to 244 tonnes in 2016. Photo: MintMumbai: India’s gold demand grew by 9.1% to 727 tonnes in 2017 due to low prices coinciding with Dhanteras, positive economic backdrop and improved consumer sentiment especially in rural areas, according to a World Gold Council (WGC) report. The total demand stood at 666.1 tonnes in 2016, WGC said in its latest Gold Demand Trends report. The growth was mainly driven by jewellery demand in 2017, which was up by 12% at 562.7 tonnes compared to 504.5 tonnes in 2016. For the last quarter of 2017, demand for gold was up 2% at 249.3 tonnes compared to 244 tonnes in 2016.

Source: Mint February 06, 2018 05:37 UTC