| India’s gold consumption declined by a marginal 5.68 per cent in the quarter ended March this year, primarily due to expectations of a cut in import duty. In terms of consumption, India continued to lag China, with a wide gap of 27 per cent.
Data compiled by global consultancy GFMS showed India’s overall gold consumption stood at 179.5 tonnes in the quarter, against 190.3 tonnes in the year-ago period. While jewellery consumption rose a marginal two per cent to 148.5 tonnes, the investment segment reported a steep 30 per cent decline at 31 tonnes...............................................Full Article: Source
|