{"id":17973,"date":"2022-11-01T12:45:05","date_gmt":"2022-11-01T07:15:05","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=17973"},"modified":"2022-11-01T12:45:10","modified_gmt":"2022-11-01T07:15:10","slug":"indias-q3-gold-jewellery-demand-17-to-146-2-tonnes","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/indias-q3-gold-jewellery-demand-17-to-146-2-tonnes\/","title":{"rendered":"India\u2019s Q3 Gold Jewellery Demand +17% To 146.2 Tonnes"},"content":{"rendered":"\n<p>India\u2019s gold demand for Q3 2022 grew 14% to 191.7 tonnes as compared to 168 tonnes in Q3 2021, according to the World Gold Council\u2019s (WGC\u2019s) latest <em>Gold Demand Trends<\/em> report. India\u2019s total Q3 2022 gold demand in value terms was \u20b985,010 crore, up by 19% as compared to Q3 2021 (Rs 71,630 crores).<\/p>\n\n\n\n<p>Somasundaram PR, Regional CEO, India, World Gold Council said: \u201cThis reflects better-than-expected performance and strong consumer interest, helping year-to-date demand return to pre-covid levels. Credit expansion added impetus to this demand, with bank loan growth touching a nine-year high by quarter-end.<\/p>\n\n\n\n<p>Gold jewellery demand in India for Q3 2022 increased 17% to 146.2 tonnes as compared to 125.1 tonnes in Q3 2021. The value of gold jewellery demand was \u20b964,860 crore, up 22% on a year-on-year basis.<\/p>\n\n\n\n<p>Somasundaram added, \u201cRecovery in gold jewellery demand was primarily driven by urban India, more specifically Southern parts, underpinned by robust economic activities with a 17% y-o-y increase in tonnage terms. Rural demand however, was impacted by seasonal effect (monsoons) and inflation. On the other hand, Indian bar and coin demand also saw a 6% y-o-y improvement to 45.4 tonnes as retail investors responded to gold price drop and weaker equity markets, and festivities around Ganpati and Puja festivals after 2 years of covid, saw a huge uplift in consumer sentiment.<\/p>\n\n\n\n<p>Total Indian investment demand for Q3 2022 increased by 6% to 45.4 tonnes, and grew 10% in value terms to \u20b920,150 crore. Total gold recycled in India in Q3 2022 was 16 tonnes, down by 23% compared to 20.7 tonnes in Q3 2021.<\/p>\n\n\n\n<p>\u201cLooking ahead, Indian retail investment is likely to continue to benefit from safe-haven demand amid rising interest rates and a weaking rupee. There\u2019s optimism in overall outlook for the rest of the year with weddings and Diwali demand in Q4, but it is unlikely to match last year\u2019s record-breaking Q4,\u201d he noted.<\/p>\n\n\n\n<p>WGC\u2019s gold demand estimate for the full year is around 750-800 tonnes, similar to last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s gold demand for Q3 2022 grew 14% to 191.7 tonnes as compared to 168 tonnes in Q3 2021, according to the World Gold Council\u2019s (WGC\u2019s) latest Gold Demand Trends report. India\u2019s total Q3 2022 gold demand in value terms was \u20b985,010 crore, up by 19% as compared to Q3 2021 (Rs 71,630 crores). Somasundaram&hellip;<\/p>\n","protected":false},"author":1,"featured_media":17974,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-17973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India\u2019s Q3 Gold Jewellery Demand +17% To 146.2 Tonnes - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/indias-q3-gold-jewellery-demand-17-to-146-2-tonnes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India\u2019s Q3 Gold Jewellery Demand +17% To 146.2 Tonnes - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"India\u2019s gold demand for Q3 2022 grew 14% to 191.7 tonnes as compared to 168 tonnes in Q3 2021, according to the World Gold Council\u2019s (WGC\u2019s) latest Gold Demand Trends report. India\u2019s total Q3 2022 gold demand in value terms was \u20b985,010 crore, up by 19% as compared to Q3 2021 (Rs 71,630 crores). 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