Gold decreased in 2013

Gold decreased in 2013

Gold demand during the last quarter of this year is likely to be lower than the same period in 2012.

“Supply constraints and high inflation resulted in decline in gold demand by 32 per cent to 148.2 tonnes compared to 219.1 tonnes in the same period last year. “Going forward in quarter in the fourth quarter, we expect the demand to be more from the third quarter as the fourth quarter is traditionally a busy season capturing the post-monsoon rural spending, major festivals and auspicious wedding days,” World Gold Council Managing Director (India) Somasundaram P R said today.

The demand during Q4 of 2012, stood at 262 tonnes. In value terms, the country’s Q3 2013, gold demand declined by 39 per cent to Rs 39,278.2 crore from Rs 64,200.9 crore in Q3 of 2012, according to World Gold Council data.

www.firstpost.com

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