India and China accounted for 54 percent of the total global gold consumer demand in the first quarter of this year. According to a the Gold Demands Trends report prepared by the World Gold Council, demand for jewellery, still the most significant component of overall demand, totalled over 600 tonnes in the first quarter of 2015, three per cent lower than the last year. The report said, conditions differed from market to market, but at an aggregate level these differences broadly balanced each other out.