Gold demand dips by 18% in Jan-March

CHENNAI: India's

gold

demand fell 18% as buyers shunned the yellow metal due to high prices with fewer auspicious days during January-March making it one of the worst quarters in recent years. Data released by the

World Gold Council

showed demand fell to 135.5 tonnes in January-March from 165.8 tonnes during the year-ago period. Jewellery demand fell 26% to 94.2 tonne.

"Since 2010 and barring the pandemic, this is only the third time the first quarter has been below 100 tonne," WGC's regional CEO Somasundaram P R said.


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