'It’s up to this industry to see how they will leverage the opportunities in new India': Mr Somasundaram talks about future of gold sector, needed policy reforms
“It’s up to this industry to see how they will leverage the opportunities in new India,” says Mr Somasundaram PR, M.D, World Gold Council, India.
Global gold demand during the January-March quarter grew 1 percent to 1,083.8 tonnes compared to the same period last year mainly due to heavy inflow in gold-backed ETFs as COVID-19 pandemic fuelled safe-haven investment demand for the yellow metal, a World Gold Council (WGC) report said
India's Jan-Mar gold demand falls 36% to 101.9 tonne due to volatile prices, economic uncertainties: WGC
Gold demand in India fell 36 percent in the January-March quarter of this year to 101.9 tonne due to volatile prices, economic uncertainties and coronavirus-induced nationwide lockdown towards the end of the quarter, according to a report
Budget 2020: Govt to sell stake in LIC via partial listing; sets steep divestment target of Rs 2.1 lakh cr for FY21
Although the government did not give a roadmap for listing LIC, it said that Rs 90,000 crore will be achieved via stake sales in state-owned banks and financial institutions.
Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry
Saying that liquidity is a major area of concern, All India Gem and Jewellery Domestic Council (GJC) Chairman Anantha Padmanaban said the government should take steps to ensure that banks lend to jewellers.
India’s gold demand is expected to fall to its lowest level in three years in 2019, the World Gold Council (WGC) said on Tuesday, as domestic prices climb to a record against a backdrop of falling earnings in rural areas, a key source of custom for the precious metal
India's gold demand slumped 32 percent to 123.9 tonnes in the September quarter as higher prices and economic slowdown reduced the appetite for the yellow metal, according to a report
Gold shines on Dhanteras; trade records 30 tonnes of sales, registers around 25% drop in demand against last year
Traders expected only 20 tonnes of gold to be sold in the domestic bullion market on Dhanteras this year, due to weak demand.
Economic slowdown impact: Gold, silver sales down by up to 40% this Dhanteras; high prices, low consumer spend hit demand
Dhanteras was a muted affair in most markets across the country with traders complaining of lesser footfall and reduced consumer spending.
Jewellers pin hope on Dhanteras, Diwali for revival in demand but expects 20-40% fall over last year's festive sales
Jewellers are pinning hope on Diwali for a revival in demand, though they are expecting that the sales may fall by 20-40 percent over last year's festive business
Gold demand zooms in June quarter, but likely to lose sheen in 2019 on rising prices, hike in customs duty
Local gold prices hit a record Rs 35,960 ($519) per 10 grams on Tuesday, having jumped more than 10% over the past month, rising in line with international prices on tensions in the Middle East.
India's gold demand may fall to three-year low as prices hit record high; lower domestic purchases to affect rally in global rates
Local gold prices hit a record Rs 35,960 per 10 grams on Tuesday, having jumped more than 10 percent over the past month, rising in line with international prices on tensions in the Middle East.
World Bank arm IFC extends $35 mn 3-year loan to Manappuram Finance; first investment in gold loan finance company
IFC said the investment in the gold-loan sector comes at a time when the sector is becoming more formal
Akshaya Tritiya gets off to a good start after three bad years; gold coins, lightweight jewellery most sought-after items
The dip in the price of gold helped and customers have been thronging jeweller stores across cities in the country
Jewellers expect better glitter this festive season on positive consumer sentiment and stable prices
India Bullion and Jewellers Association National vice-president Saurabh Gadgil said he expects 15-20 percent growth in demand this Akshaya Tritiya.
India's Q1 gold demand up 5% at 159 tonne on fall in prices; jewellery sale gets boost during wedding season: WGC
Gold demand stood at 151.5 tonne in the first quarter of 2018, according to WGC's ‘Q1 Gold Demand Trends' report
Domestic gold demand dips 1.40% to 760.4 tonne in 2018 on higher prices, govt measures; rises 4% globally: Report
Various central banks bought 74 percent more gold, adding 651.5 tonne more to their official gold reserves in 2018, compared with 374.8 tonne in 2017, the report said.
Gold glitters on Dhanteras despite rise in prices on fears of further hike; sales up 15% after a sluggish start
Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables and is largely celebrated in northern and western parts of India.
Gold price increase to dampen Indian festive purchases, lower imports to help country reduce trade deficit: WGC
Gold demand in India usually spikes towards the end of the year, when buying the precious metal for weddings and major festivals such as Diwali and Dussehra is considered auspicious.
For the first seven months of 2018, India’s gold imports fell 28 percent from a year ago to 406.2 tonnes, data compiled by GFMS showed.