Gold consumption in India may cross 1000 tonnes


Gold consumption in India is likely to cross the 1,000-tonne mark for the first time if prices remain stable or grow steadily, according to World Gold Council (WGC). Consumption rose over 70% to 528 tonne in the first half of the current year from 307 tonne in the corresponding period last year. The consumption was a little over 700 tonne in 2006.

Globally, the consumption in the first half of the year was 1,480 tonne – an increase of 25% over the same period last year.