Gold demand shines, up 30% in January-June: WGC

Expectation of a good monsoon boosted sentiment

India’s gold demand jumped 30 per cent in the first half of 2017 on robust buying towards the end of the April-June quarter, according to the World Gold Council (WGC).

India’s gold demand during January-June jumped to 298.4 tonnes from 229.4 tonnes in the corresponding period of the previous year. Investment demand was 73 tonnes, taking total demand to 371 tonnes. 

“We have forecast gold demand of 650-750 tonnes for the entire year,” said Somasundaram PR, managing director, India, WGC.

While the concerns of a higher goods and services tax remained, sentiment improved on expectation of a good monsoon. This was evident in