India's gold demand falls 39% in March quarter
India’s gold demand dropped 39% during the quarter ended March to 116.5 tonnes due to jewellers' strike over re-introduction of excise duty that affected the wedding purchase segment, the World Gold Council said. In value terms, the demand fell by 36% year-on-year to ₹29,900 crore. Further, WGC forecast demand in 2016 at 850-950 tonnes, compared with 864.3 tonnes last year.