Gold is an integral part of Indian society and a foundation of wealth
APPETITE FOR GOLD: People buying gold jewellery ornaments on the occasion of Diwali - Dhanteras, at a jewellery shop in Hyderabad.
The Indian consumer's affinity and appetite for gold has continued over the years and statistics from a report published by the World Gold Council (WGC) indicate that in 2009 Indian demand accounted for 15 per cent of the global gold market.
The WGC report, titled “India: Heart of Gold”, addresses recent developments in the market in the context of the revival of Indian demand for gold in 2010. The report indicates that in 2009, total Indian gold demand reached $19 billion (Rs.97,400 crore), which accounts for 15 per cent of the global gold market.
The Hindu
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