Gold Demand

Gold Demand News

Demand for gold in rural India to revive in second half of 2018 as govt supports farmers: World Gold Council
Business

Demand for gold in rural India to revive in second half of 2018 as govt supports farmers: World Gold Council

Two-thirds of the country's gold demand comes from rural areas, where jewellery is a traditional store of wealth.

Gold loses shine: Demand falls by 12% to 115 tonne in Q1 due to high local price, says World Gold Council
Business

Gold loses shine: Demand falls by 12% to 115 tonne in Q1 due to high local price, says World Gold Council

In terms of value, the gold demand fell by 8 percent to Rs 31,800 crore, compared to Rs 34,440 crore in the same period of 2017

Gold purchases shine 15-20 percent on Akshaya Tritiya; demand seen for coins, light weight jewellery
Business

Gold purchases shine 15-20 percent on Akshaya Tritiya; demand seen for coins, light weight jewellery

Freebies and the absence of deterrents boost demand. Purchases were relatively lower last year, in the aftermath of the demonetisation drive, announced in late 2016.

Gold demand went up by 9% to 727 tonne in 2017; import of yellow metal up 59%, says WGC
Business

Gold demand went up by 9% to 727 tonne in 2017; import of yellow metal up 59%, says WGC

The growth gold demand was mainly driven by jewellery segment in 2017, which was up by 12 percent at 562.7 tonne compared to 504.5 tonne in 2016.

Demand for gold: Wedding season expected to infuse renewed interest in coming weeks
Business

Demand for gold: Wedding season expected to infuse renewed interest in coming weeks

Gold imports by (jewellery) export houses have fallen sharply in the last few weeks resulting in moderating demand despite the market at premium levels

Festive glitter brightens India's gold demand but high prices took some sheen off
Business

Festive glitter brightens India's gold demand but high prices took some sheen off

Gold demand in India usually strengthens during the final quarter as the country gears up for the wedding season soon after the festivals when buying bullion is considered auspicious

Dhanteras: Jewellers see no sparkle as gold and jewellery sales remain flat despite KYC relaxation
Business

Dhanteras: Jewellers see no sparkle as gold and jewellery sales remain flat despite KYC relaxation

Gold prices are ruling at Rs 30,710 per 10 gram on Tuesday in the national capital as against Rs 30,590 per 10 grams on Dhanteras in 2016.

India's Apr-Jun quarter gold demand surges 37% to 167.4 tonnes: World Gold Council
Business

India's Apr-Jun quarter gold demand surges 37% to 167.4 tonnes: World Gold Council

In value terms also, the demand surged by 32 percent at Rs 43,600 crore against Rs 33,090 crore in the Q2 2016.

GST: Gold imports in June more than triples as buyers rush to beat higher tax rate
Business

GST: Gold imports in June more than triples as buyers rush to beat higher tax rate

For the first half of the year, imports rose to 514 tonnes, up 161 percent from a year ago.

GST may take shine off gold demand in short-term as small-scale retailers struggle to adapt: WGC
Business

GST may take shine off gold demand in short-term as small-scale retailers struggle to adapt: WGC

The WGC continued to remain cautious for 2017, expecting consumers to buy between 650-750 tonnes gold, an increase from the 666 tonnes purchased in 2016.

India gold demand may touch up to 950 tonnes level by 2020: WGC
Business

India gold demand may touch up to 950 tonnes level by 2020: WGC

WGC said after plummeting last year, demand for the precious metal is unlikely to fall further.

India's gold demand hit by note ban, but long-term holds good on strong consumption hopes
Business

India's gold demand hit by note ban, but long-term holds good on strong consumption hopes

WGC said gold trade will become more transparent with introduction of GST, mandatory hallmarking and a massive push by organised jewellers to promote non-cash payments

India's gold demand could fall to 7-year low on high prices, smuggling: WGC
Business

India's gold demand could fall to 7-year low on high prices, smuggling: WGC

Gold is one of India's biggest expenses on its import bill.

'Gold demand likely to fall to 750 ton in 2016 on high price'
Business

'Gold demand likely to fall to 750 ton in 2016 on high price'

In August, WGC had reported that the country's gold demand fell by 30 per cent to 247.4 tonnes during the first six months of 2016 from 351.5 tonnes in the year-ago period

Global gold demand rises 15% in Q2 amid political, economic uncertainty: WGC
Business

Global gold demand rises 15% in Q2 amid political, economic uncertainty: WGC

ETFs performed well at 237 tonnes during the April-June period, while bar and coin demand was also up in a number of markets, including the US, at 25 tonnes

Jewellers end over month-old strike, but threaten to resume if demands not met
Business

Jewellers end over month-old strike, but threaten to resume if demands not met

Late last month, jewellers had first ended the strike on 21 March, after the government assured they will not be "harassed" by the excise department in collecting a new tax

China may topple India to become world's largest gold consumer
Economy

China may topple India to become world's largest gold consumer

China is this year set to usurp India as the world's biggest gold consumer by a convincing margin as strict import rules introduced by New Delhi bite, forecasts from the World Gold Council showed on Thursday.

Gold demand slides by a fifth after drop in buying from India
Economy

Gold demand slides by a fifth after drop in buying from India

Gold demand fell 21 percent in the third quarter as outflows from physical bullion funds and a drop in buying from major consumer India offset firmer jewellery, coin and bar sales, an industry report showed on Thursday.

Why monsoon may make curbing gold demand tougher for govt
Economy

Why monsoon may make curbing gold demand tougher for govt

Gold is one of the biggest items in a record current account deficit that has helped push the rupee to an all-time low, and as New Delhi scrambles to stop the decline it has taken measures to curb gold imports and consumption.

Declining inflation may bring down gold demand: Rangarajan
Economy

Declining inflation may bring down gold demand: Rangarajan

Gold demand is likely to fall as easing of general inflation rate will make investment in financial products more attractive than the yellow metal, PMEAC Chairman C Rangarajan said today.