{"id":1114043,"date":"2019-05-02T17:25:19","date_gmt":"2019-05-02T17:25:19","guid":{"rendered":"http:\/\/www.mining.com\/?p=985393"},"modified":"2019-05-02T17:25:19","modified_gmt":"2019-05-02T17:25:19","slug":"gold-demand-up-7-in-q1-boosted-by-central-banks-india","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1114043","title":{"rendered":"Gold demand up 7% in Q1, boosted by central banks, India"},"content":{"rendered":"

Global demand for gold grew to 1,053.3 tonnes in Q1, up 7% year-on-year, according to the latest report<\/a> by the World Gold Council. A big reason for the stronger demand is central banks, which continued to buy gold for diversification and liquidity purposes. Another is improvement in the India market.<\/p>\n

Central banks around the world bought 145.5 tonnes of gold this quarter, the largest increase in global reserves since 2013 (179.1 tonnes). The buying volume also comfortably exceeded the five-year quarterly average of 129.2 tonnes.<\/p>\n

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An uptick in demand for gold jewellery also contributed to the stronger Q1 gold demand. Much of this growth came from India, the world’s second-biggest gold consumer, where a lower rupee gold price in late February\/early March coincided with the traditional gold-buying wedding season to lift jewellery demand up to 125.4 tonnes, the highest since Q1 2015.<\/p>\n

This could continue on heading into the second quarter. The Hindu calendar shows 37 auspicious dates for weddings in Q2, compared with just 21 in the second quarter a year earlier. Indians will also celebrate Akshaya Tritiya on May 7, when buying gold is considered auspicious.<\/p>\n

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“Prices are attractive. In the second quarter we might see a surge in demand due to Akshaya Tritiya and higher auspicious days for weddings,” said Somasundaram PR, the managing director of WGC’s Indian operations.<\/p>\n

The post Gold demand up 7% in Q1, boosted by central banks, India<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Continued gold buying from central banks and the wedding season in India helped to boost gold demand in Q1.<\/p>\n

The post Gold demand up 7% in Q1, boosted by central banks, India<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[647,404,369],"tags":[48,60],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1114043"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1114043"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1114043\/revisions"}],"predecessor-version":[{"id":1114044,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1114043\/revisions\/1114044"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1114043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1114043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1114043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}