India Gold Demand Statistics for Q2 2018 (April – June)

Demand for gold in India for Q2 2018 was at 187.2 tonnes down by 8% as compared to overall Q2
demand for 2017 (202.6 tonnes)
o India’s Q2 2018 gold demand value was Rs 52,692 crores, the same as Q2 2017 (Rs 52,750
crores)
• Total Jewellery demand in India for Q2 2018 dropped 8% at 147.9 tonnes as compared to Q2 2017
(161 tonnes)
o The value of jewellery demand was Rs 41,631 crores, down by 1% from Q2 2017 (Rs. 41,925
crore)
• Total investment demand for Q2 2018 at 39.3 tonnes was down by 5% in comparison to Q2 2017
(41.6 tonnes)
o In value terms, gold investment demand was Rs. 11,061 crores, up by 2% from Q2 2017 (Rs.
10,825 crores)
• Total gold recycled in India in Q2 2018 was 32 tonnes, up by 8% compared to 29.6 tonnes in Q2
2017
• India 2018 full year market expectations of gold demand: 700 – 800 tonnes
India gold demand figures for the period April to June 2018 vs. the corresponding period in 2017:
Gold
Demand
Q2 ‘17 Q2 ‘18
April – June 2017 April – June 2018 %Growth
Tonnes
INR
(crore)
USD
(bn) Tonnes
INR
(crore)
USD
(bn)
Volume
tonnes
Value
(INR)
Value
(USD)
Jewellery 161 41,925 6.50 147.9 41,631 6.21 -8% -1% -4%
Investment 41.6 10,825 1.65 39.3 11,061 1.68 -5% 2% -2%
Total 202.6 52,750 8.15 187.2 52,692 7.89 -8% -0.1% -3%
India gold demand figures for the period of January to June 2018 vs the corresponding period in 2017
Gold
Demand
H1 ‘17 H1‘18
Jan – June 2017 Jan – June 2018 %Growth
Tonnes
INR
(crore)
USD
(bn) Tonnes
INR
(crore)
USD
(bn)
Volume
tonnes
Value
(INR)
Value
(USD)
Jewellery 284.7 74,402 11.35 267.1 74,417 11.30 -6% 0% -0.4%
Investment 78.6 20,556 3.13 71.6 19,951 3.0 -9% -3% -4%
Total 363.3 94,958 14.48 338.7 94,368 14.30 -6% -0.6% -1.2%
Somasundaram PR, Managing Director, India, World Gold Council said:
India’s gold demand in Q2 2018 was 187.2 tonnes, 8 per cent lower than the strong Q2 in 2017,
when consumers rushed to make advance purchases ahead of the GST roll out. A strong Akshaya
Tritiya and wedding season boosted demand at the start of the quarter but the onset of “Adhik
Maas”, which is considered inauspicious, and a rising Indian rupee price inspite of softening
international prices kept the quarter range bound.
While demand for the first half of the year is also below the same period in 2017 and the 10-year
average by 6% and 13% respectively, there are strong positives evident in the growth of organised
trade and digital products. The short-term disruption caused by the various transparency measures
since 2016 have started to wane with industry transitioning well across the spectrum. For the
second half, good monsoons and the festive season, aided by the government’s effort to boost farm
incomes, bodes well for demand. Our full year estimate for gold demand is in the range of 700 to
800 tonnes.