Gold demand in Dec quarter can jump 15 percent - WGC

Last Updated: Tue, Oct 08, 2013 09:35 hrs

Gold demand from India is likely to jump as much as 15 percent to 300 tonnes in the December quarter from a year earlier as pent-up demand post a good monsoon could re-surface after a difficult September quarter, a senior official at the World Gold Council (WGC) said on Tuesday.

"There are 20 percent more auspicious days and also there is pent-up demand from last quarter. Monsoon has also been good, so all indications are demand will be robust," said Somasundaram PR, WGC's India managing director.

Imports in the September quarter shrunk to 100 tonnes, he said. Despite this, imports in 2013 could rise to 900-1,000 tonnes from 864 tonnes last year, he added.

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