Gold Demand Increase In June Quarter 2022 Hike 43 Percent Sone Ka Aaj Ka Bhav
Gold Demands: Despite the rise in gold prices, there is...
Gold Demands: Despite the rise in gold prices, there is no reduction in demand. At this time, the enthusiasm of buying gold among people has increased a lot. In the June quarter, the demand for gold is seeing an increase of about 43 percent. The World Gold Council has given information about this by issuing a report.
What did the WGC say in the report?
The World Gold Council has said in the report that the demand for gold in India in the April-June quarter has been 43 percent higher on an annual basis. However, there are a number of key factors that could affect its sentiment, including inflation, rupee-dollar rates and policy measures.
How much demand increased in India
The WGC report said that during April to June, the demand for gold in India stood at 170.7 tonnes, which is 43 percent higher than the demand of 119.6 tonnes in the same period of 2021. In a report released by the WGC on the demand for gold, it was said on Thursday that the demand for gold in India increased by 54 percent to Rs 79,270 crore in the June quarter from Rs 51,540 crore in the same quarter of 2021.
49 percent increase in demand
WGC’s Somasundaram PR has said that due to the beginning of the wedding season with Akshaya Tritiya, the demand for jewelery has increased by 49 per cent to 140.3 tonnes. He said that the WGC has set a demand outlook of 800-850 tonnes for 2022, although other factors including inflation, gold price, rupee-dollar rates and policy steps will affect consumer sentiments in the times to come.
How was the global demand?
He told that the total demand for gold in 2021 was 797 tonnes. In the June quarter, gold recycling in India increased by 18 per cent to 23.3 tonnes from 19.7 tonnes in the same period last year. Gold imports also increased by 34 per cent to 170 tonnes in the quarter as against 131.6 tonnes in the same period of 2021. According to the report, the global demand for gold declined by eight per cent year-on-year to 948.4. It was 1,031.8 tonnes in the June quarter of 2021.
Opportunities will increase in the second half of 2022
Emma Lewis Street, senior analyst at WGC, has said that there are both dangers and opportunities for gold in the second half of 2022. As a safe investment, gold is expected to remain in demand but there are also challenges of further monetary tightening and a further strengthening of the dollar.
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