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According to WGC, India’s Q2 gold demand falls 25 percent

According to the World Gold Council (WGC), the gold demand during April-June has declined 25 percent to 154.5 tonnes because of unseasonal rains in the first quarter which damaged crops and the shrinking of wedding dates.

The second quarter’s demand in 2014 stood at 204.9 tonnes.

India’s gold demand in Q2 2015 fell 26 percent to Rs 37, 590.2 crore in terms of value as compared with Rs 50,778.1 crore in Q2 2014.

Somasundaram PR, WGC Managing Director India said, “Consumer demand in India fell 25 per cent to 154 tonnes in the April to June quarter, due to a buoyant stock market, a softening rural economy affected by unseasonal heavy rains in Q1, which damaged crops and fewer auspicious days impacting wedding-related demand.

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