Gold demand in India to increase in 2014: WGC

The World Gold Council is confident that 2014 would end on a robust note in gold demand in India, contrary to the initial drop in the first half. ‘This year's first-half has been a little challenging. The jewellery demand in terms of volume from January to June (first six months of 2014) as compared to the same period last year is lowered by 14 per cent. But this is a short-term trend,’ World Gold Council Director-Jewellery for India Vipin Sharma told PTI in an exclusive interview. He said that the wedding season in India constituted one of the biggest segments as 50 per cent of the total gold consumption occurred during that period. According to Sharma, who is responsible for the strategic development of the World Gold Council's Jewellery division in India, short-term fluctuations were a common trend and depend on the economic reasons as well as on the sentiments of the consumers, according to ndtv.com.