Indians have so much money? Bought gold worth Rs 75 thousand crore in 90 days, understand the reason

Gold Shopping: In the last few days, there has been a continuous rise in the prices of gold. Despite the rise in prices, there is no decrease in demand. In the last 3 months, Indians have purchased gold worth crores of rupees. According to a report by World Gold Counselling, the demand for gold in India has increased.

According to the report of World Gold Counselling, gold has also been purchased by the Reserve Bank of India. Due to this, the demand for gold has increased significantly in India. Indians have bought gold worth Rs 75,470 crore in 90 days. This purchase was made between January and March.

Demand has increased by 20 percent on annual basis

The demand for gold has increased by 20 percent between January and March in the year 2024. At the same time, an average increase of 11% has been seen in its prices. According to the World Gold Council’s annual report Gold Demand Trends Q1 2024, the total gold demand in India increased to 136.6 tonnes between January and March. In the same period a year ago, this demand was 126.3 tonnes. The total demand for gold jewelery in India has now increased by 4 percent to 95.5 tonnes. At the same time, its demand as investment has increased by 19 percent to 41.1 tonnes.

Due to this the demand is increasing

According to experts, India’s economy is continuously becoming stronger. Due to this, the demand for gold for investment has also increased. This year the demand for gold in India may be around 700 to 800 tonnes. Even before this, the demand for gold in India in the year 2023 was 747.5 tonnes.