WGS Says Indian Gold Demand Improved In First Quarter Of This Year

As reported by the Economic Times, the World Gold Council said that its preliminary figures indicate that Indian gold demand for the first quarter of this year improved over the fourth quarter of last year.

"Preliminary reports on Q1 2010 demand trends in India suggest a continuing improvement, as witnessed in Q4 2009, and supported by seasonal festivities which include a number of Hindu New Year festivals," the WGC said ahead of the release of its quarterly report in mid-May.

4Q '09 demand rose 13 percent. The report notes, though, that higher prices will call forth greater supply from gold recycling.