Dubai: Gold is in high demand in India and globally as a secure investment. The first three months of this year alone saw an increase of 34%. This is good news in the current context of economic instability.
Global demand for gold increased by 1234 tonnes in January-March. 919.1 tonnes during the same period last year. Demand for gold bullion and coins also increased by 11% over 5 years. The global figure is 282 tonnes. But this is 20% less than last year.
Demand for jewelery fell 18% to 135 tonnes in the first three months of this year as wedding demand fell and prices rose. However, the demand in the investment sector has increased to 41 tonnes. Last year it was 39 tonnes. The World Gold Council (WGC) report states that this is due to the preference of exchange traded funds for ETFs (Exchange Traded Funds). At the same time, the yellow metal did not perform well in the jewelry sector. Demand for gold in India grew by 4% in the investment sector.