Demand For Gold Surges In Quarter3

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Demand For Gold Surges In Quarter3
29 Oct 2021
5 min read

News Synopsis

The festive season is known for a shopping spree and ao is this Diwali season. This season is to be happy and purchase gold and jewellery like there’s no tomorrow, well the demand for gold surging in the third quarter of the yeast has shown similar results, customers are thronging into shops and purchasing their favourite yellow metal.

Reports suggest that there is a 47% increase in demand for gold in Q3, 137 tonnes of gold. The gold jewellery demand has surged at 58% meaning 96 tonnes of gold and investment purpose gold coins at 18% in a quarter. The demand is usually low in the monsoon period as well as Pitru-Paksha, wherein people avoid purchasing gold. 

News has emerged that in the Indian market, gold’s value increased to 37% at Rs. 59,330 crore in Q2 of the fiscal year 2021, as compared to the previous year. The total demand for investment rose to 27% at 42.9 tonnes. 

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