bullionstreet.com / November 27th 05:06 PM
An estimated shortfall of around 170 tons is seen around this year, analysts said. India imported a record 969 tons in 2011, up from 958 tons in 2010.
NEW DELHI (BullionStreet): Days after reports said China’s gold demand to cross 1,000 tons a year from next year, a WGC official said Indian demand is expected to touch 800 metric tons in 2012.
According to Amresh Acharya, director of investment at World Gold Council’s India office,gold demand in the world’s largest consumer is expected to rise as much as 23% from a previous estimate of around 650-750 tons.
An estimated shortfall of around 170 tons is seen around this year, analysts said. India imported a record 969 tons in 2011, up from 958 tons in 2010.
He attributed the projected increase to revival in purchases during the festive season and signs of a revival in economic growth. Demand in the July-September period rose by 9% to 223.1 tons, the council said.
Recent Comments