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|| 35 percent fall in gold demand in India ||
Gold demand in India has fallen to a 25-year low at 446.4 tonnes in 2020, owing to Covid-induced lockdown, uncertainty about livelihood and price rise. Gold demand was at 463 tonnes in 1995. On a year-on-year comparison, the gold demand was at 690.4 tonnes in 2019.
Total jewellery demand in India for 2020 was down by 42 per cent at 315.9 tonnes as compared to 544.6 tonnes in 2019. The value of jewellery demand in 2020 was Rs 1,33,260 crores, down by 22 per cent from 2019 (Rs 1,71,790 crore).
Total investment demand for 2020 was down by 11 per cent at 130.4 tonnes in comparison to 145.8 tonnes in 2019. In value terms, gold investment demand was Rs 55,020 crores, up by 20 per cent from 2019 (Rs 45,980 crores) while the total gold recycled in India in 2020 was 95.5 tonnes as compared to 119.5 tonnes in 2019.
Demand for gold in India for Q4 2020 was at 186.2 tonnes down by 4 per cent as compared to overall Q4 demand for 2019 (194.3 tonnes). Indias Q4 2020 gold demand value was Rs 82,790 crores, an increase of 26 per cent in comparison with Q4 2019 (Rs. 65,890 crore) Q4 2020.
Total jewellery demand in India for Q4 2020 was down by 8 per cent at 137.3 tonnes as compared to Q4 2019 (149 tonnes). The value of jewellery demand was Rs 61,060 crores, an increase of 21 per cent from Q4 2019 (Rs. 50,530 crore). Total gold recycled in India in Q4 2020 was 21.7 tonnes, as compared to 29.1 tonnes in Q4 2019.
Somasundaram PR, managing director, India, World Gold Council said, Indias gold demand dropped by over a third in 2020, settling at 446.4 tonnes, on the back of Covid-induced lockdowns and lifetime high prices. However, the drop was significantly lower when viewed in value terms, 14 per cent lower than 2019 as prices were up 34 per cent hovering around Rs 50,000/10 grams for most of the past year.
However, in Q4 2020, the festive period and the ensuing wedding season revived hopes and drew in jewellery demand worth 137.3 tonnesthe strongest quarter in the year. Investment demand also showed significant resilience, growing 8 per cent to 48.9 tonnes. Predictably, as lockdown eased and normalisation efforts were phased in, imports in Q4 rose 19 per cent year-on-year, pointing to the positive impact of pent-up demand. This can be expected to continue into 2021 as further normalcy returns and steady course of reforms strengthen the industry, he added.
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You can still enroll as a voter for MLC elections with this link: http://ceotserms2.telangana.gov.in/MLC/form18.aspx || 35 percent fall in gold demand in India || Gold demand in India has fallen to a 25-year low at 446.4 tonnes in 2020, owing to Covid-induced lockdown, uncertainty about livelihood and price rise. Gold demand was at 463 tonnes in 1995. On a year-on-year comparison, the gold demand was at 690.4 tonnes in 2019. Total jewellery demand in India for 2020 was down by 42 per cent at 315.9 tonnes as compared to 544.6 tonnes in 2019. The value of jewellery demand in 2020 was Rs 1,33,260 crores, down by 22 per cent from 2019 (Rs 1,71,790 crore). Total investment demand for 2020 was down by 11 per cent at 130.4 tonnes in comparison to 145.8 tonnes in 2019. In value terms, gold investment demand was Rs 55,020 crores, up by 20 per cent from 2019 (Rs 45,980 crores) while the total gold recycled in India in 2020 was 95.5 tonnes as compared to 119.5 tonnes in 2019. Demand for gold in India for Q4 2020 was at 186.2 tonnes down by 4 per cent as compared to overall Q4 demand for 2019 (194.3 tonnes). Indias Q4 2020 gold demand value was Rs 82,790 crores, an increase of 26 per cent in comparison with Q4 2019 (Rs. 65,890 crore) Q4 2020. Total jewellery demand in India for Q4 2020 was down by 8 per cent at 137.3 tonnes as compared to Q4 2019 (149 tonnes). The value of jewellery demand was Rs 61,060 crores, an increase of 21 per cent from Q4 2019 (Rs. 50,530 crore). Total gold recycled in India in Q4 2020 was 21.7 tonnes, as compared to 29.1 tonnes in Q4 2019. Somasundaram PR, managing director, India, World Gold Council said, Indias gold demand dropped by over a third in 2020, settling at 446.4 tonnes, on the back of Covid-induced lockdowns and lifetime high prices. However, the drop was significantly lower when viewed in value terms, 14 per cent lower than 2019 as prices were up 34 per cent hovering around Rs 50,000/10 grams for most of the past year. However, in Q4 2020, the festive period and the ensuing wedding season revived hopes and drew in jewellery demand worth 137.3 tonnesthe strongest quarter in the year. Investment demand also showed significant resilience, growing 8 per cent to 48.9 tonnes. Predictably, as lockdown eased and normalisation efforts were phased in, imports in Q4 rose 19 per cent year-on-year, pointing to the positive impact of pent-up demand. This can be expected to continue into 2021 as further normalcy returns and steady course of reforms strengthen the industry, he added.