A report by Motilal Oswal Institutional Equities said, total consumer demand for gold in India, which includes jewellery, bars, and coins, witnessed a 37.4 per cent year on year growth in 1QCY21 to 140 ton.
Demand for jewellery remained robust in India, with volumes up 38.3% YoY to 102.5 tons in 1QCY21.
This sharp growth was due to robust consumer demand and stocking up ahead of upcoming festivals including Akshaya Tritiya in May 2021.