Supply through recycling of used gold declined to around 10 tonnes in the second quarter of the current calendar year.
According to jewellers and MMTC-PAMP India, gold demand has picked up in the wake of good monsoon and favourable price levels. There was positive response and more footfalls.
Gold demand in India is expected to be robust in 2014, likely leading to a further jump in smuggling if curbs on bullion imports remain, the World Gold Council (WGC) said.
Globally, jewellery buying fell 14%, investment slid 11%.
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
India has 20,000 tonnes of idle gold; gold is an important aspect of women empowerment: PM.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances