Gold jewellery demand in India slumps 74% in June quarter on Covid-19

The strict lockdown imposed in late March eclipsed the gold buying festival of Akshaya Tritiya

The demand for gold jewellery in India tanked a massive 74 per cent in the April – June quarter of the calendar year 2020 (Q2-2020) at 44 tonnes (t) and sharply higher than the 33 per cent drop seen in China at 90.9 t during the same period, suggests the latest gold demand trends report by World Gold Council (WGC) released July 30. The fall in demand in both India and China – the biggest gold consumers in the world – led to an overall 53 per cent drop in the global demand for gold jewellery at 251.5 t during