India's demand for gold rises in H1
As per the statement submitted by the World Gold Council (WGC), the total demand for gold in India during the first half has rise substantially. It has grown by 94 per cent to end at 365-tons as against 188.4 million tons.
The statement said, "Demand for gold in India rose by 94 per cent to 365 tonnes in H1 2010 as compared to 188.4-tonnes in H1 2009 clearly indicating that there has been a rebound in demand as compared to the previous year."
In monetary terms the demand increased to rupees 45,700 crore. Also during the period, the total volume of gold investment in the country went up by 264 per cent to end at 92.5 million tons as compared to 25.4 million tons during the same period last year.
Total gold jewellery demand in India remained robust in H1 2010. The volume of growth increased 67 per cent to 272.5-tonnes as compared to 163-tonnes in H1 2009.
This, says WGC, shows the clear indication of the kind of diversity of gold has in India.
And now, with the marriage season followed by festival season coming, it is going to go up even further.