Indian demand for gold down 12 percent in 2012: World Gold Council

Last Updated: Thu, Feb 14, 2013 11:30 hrs

Chennai, Feb 14 (IANS) Indian demand for gold in 2012 went down by 12 percent by volume but increased six percent in value terms, said a statement from the World Gold Council (WGC).

According to WGC, overall demand for gold in India for 2012 was at 864.2 tonnes - down by 12 percent as compared to the demand of 986.3 tonnes in 2011.

However a strong performance during the last quarter of 2012 saw the demand for yellow metal in India going up to 261.9 tonnes, an increase of 41 percent over the same period in 2011.

The Council said total jewellery demand in India for 2012 was down by 11 percent at 552 tonnes in 2012 and the investment demand was down by 15 percent at 312.2 tonnes in comparison to 2011.

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