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India's gold demand in April-June sinks 70% on COVID-19 disruptions: WGC

Gold demand in India plunged 70% during the April-June quarter to 63.7 tonnes compared with 213.2 tonnes in the same period last year mainly due to the nationwide lockdown to prevent the spread of COVID-19 and high prices, according to a World Gold Council (WGC) report. The total jewellery demand in India for the second quarter of 2020 declined 74% to 44 tonnes compared to 168.6 tonnes in the same quarter of 2019. Jewellery demand, in value terms, fell by 63% during the April-June this year at Rs 18,350 crore from Rs 49,380 crore in the corresponding period last year.

Read More at Moneycontrol News date : 30 Jul 2020, Thursday

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