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The retail investment demand for gold bars and coins, as well as central bank purchases saw an incrase in gold demand to 1,181.5 tonnes during the July-September 2022 quarter. In comparison, the September 2021 quarter stood at 921.9 tonnes during the July-September quarter of 2021.According to a report by the World Gold Council, the Reserve Bank of India (RBI) continued with its long-standing gold purchasing strategy in the third quarter and bought 13 tonnes in July and 4 tonnes in September, pushing its gold reserves to 785 tonnes.The report noted that much of this growth was led by India’s urban consumers who drove up demand 17 per cent year-on-year to 146.2 tonnes.
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