Demonstrating the resilience of the country’s appetite for gold jewellery, demand for jewellery in India for the September 2014 quarter was up by 60% at 182.9 tonnes as compared to Q2 2013 (114.5 tonnes). The increase is partly reflective of the weakness in India last year when the government introduced import curbs and raised import duties.
1. 81.2% of total gold demand in India is accounted by jewellery
2. Total demand for gold in India for the quarter ended September 2014 was at 225.1 tonnes, up by 39% as compared to the overall demand in the same period of 2013 (161.6 tonnes). With this, market expectations of gold demand for 2014 is at 850–950 tonnes.
3. India’s Q2 2014 gold demand value was Rs 56,219.3 crore, a rise of 31 per cent in comparison to Q2 2013 (Rs 42,829.6 crore)
4. The value of jewellery demand was Rs 45,681.6 crore, a rise of 51% from Q2 2013 (Rs 30,346.5 crore)
5. Total investment demand for Q2 2014 was down by 10% at 42.2 tonnes in comparison to Q2 2013 (47.1 tonnes)
6. In value terms, gold investment demand was Rs 10,537.7 crore, a drop of 10% from Q2 2013 (Rs 12,483.1 crore)
7. Total gold recycled in India in Q2 2014 was 18.2 tonnes, as compared to 53 tonnes in Q2 2013