Gold demand in India down around 7% in Q1 to 187 tonnes, says WGC

Global gold demand declined from all sectors, barring technology which reported a marginal two per cent jump during the April-June quarter

Gold demand in India declined by around seven per cent during the second quarter of this calendar year.

Among the reasons are an extra month ‘adhik maas’ in the traditional calendar, considered an inauspicious period, coupled with a range-bound price due to rupee depreciation.

The apex global gold miners’ body, World Gold Council (WGC), estimated overall demand in India at 187.2 tonnes for the April-June period, compared to 202.6 tonnes in the corresponding quarter last year. Demand from the jewellery sector slumped by eight per cent to 147.9 tonnes, from 161 tonnes in the comparable period last year. And, investment