Gold jewellery demand in India likely to dip in H2: World Gold Council

At the global level, the demand for gold (excluding OTC) was 8 per cent lower y-o-y at 948 tonnes. Combined with Q1-2022, the total demand in the first half of 2022 came in at 2,189t, up 12 per cent

After rising 49 per cent year-on-year (YoY) in the quarter ended June 2022 to 140.3 tonnes, the demand for gold jewellery in India is likely to dip in the remaining part of the calendar year 2022, said the latest report by World Gold Council.

“Akshaya Tritiya coupled with traditional wedding buying spurred jewellery demand, though on a low base as the June quarter of 2021 was impacted by a devastating second wave of Covid. Total jewellery demand for the first half of 2022 (H1-2022) reached 234 tonnes, which is 6 per cent higher YoY,” said Somasundaram PR, Regional CEO, India,