Bangalore: Government's move to hike import duty on gold could do little to curb its demand and make it an even more sought after commodity in the current year, pushing up the price of the precious metal, say industry experts.

However, post the announcement there was "mad rush" to buy gold as traders expected short supplies, said Harish Galipelli, Head, Commodity and Currency Derivaties at JRG Wealth Management, reported PTI.

Take a look on how India’s love for the yellow metal has been growing year on year over the past decade.

1. Year: 2003

In the year 2003 the gold demand in the country was 528 in terms on tomes. The value was $6.2 per billion and 287 per billion.  Annual average price of the yellow metal was $363.3 per ounce and 5, 435.1 per 10 gram.

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