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Covid-19: India gold demand slumps 36% in Q1, global ETF inflows jump 7-fold

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MUMBAI: Demand for gold in India fell 36% year-on-year to 101.9 tonnes in January-March due to economic uncertainties and nationwide lockdown amid the covid-19 pandemic.

According to the World Gold Council’s Gold Demand Trends report on Thursday, the demand value of the yellow metal fell 20% to ₹37,580 crore during the quarter.

Gold jewellery demand in India fell 41% during the March quarter to an 11-year low of 73.9 tonnes amid higher domestic prices, a depreciating currency and softer economic growth.

Although demand rose during the wedding season early in the quarter, a sharp increase in local gold prices from mid-February made buyers hold back purchases.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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