News

India`s 2023 gold demand could fall 10% to 3-year low - World Gold Council India's gold demand in 2023 could fall 10% from a year ago to their lowest in three years, as record high prices are dampening retail purchases, the World Gold Council (WGC) said on Tuesday. The lower purchases in the world's second-biggest gold consumer could limit a rally in global prices. Falling demand for gold imports could also help to narrow India's trade deficit and support the rupee. "We remain cautious about gold demand as it faces uncertainties due to elevate...
India`s 2023 gold demand could fall 10% to 3-year low - World Gold Council
India`s 2023 gold demand could fall 10% to 3-year low - World Gold Council
Source: Reuters
1/08/2023 11:49:44 AM
Record gold prices to dampen Indian demand in June, Sept quarters -WGC Indian gold demand in the March quarter fell 17% to the lowest level in 10 quarters and is likely to remain subdued even during June and September quarters on record-high prices, the World Gold Council (WGC) said on Friday. The lower purchases in the world's second-biggest gold consumer could limit a rally in global prices, with bullion trading near all-time highs. Falling demand for gold imports could also help to narrow India's trade deficit and support the rupee. Demand durin...
Record gold prices to dampen Indian demand in June, Sept quarters -WGC
Record gold prices to dampen Indian demand in June, Sept quarters -WGC
Source: Reuters
5/05/2023 12:31:29 PM
Gold demand in India in February improved: WGC Indian retail demand for gold improved in February 2023 supported by a three per cent fall in local prices and wedding purchases, said World Gold Council (WGC) in a report. According to WGC, the unchanged custom duty in the Union Budget also bolstered wholesale restocking. Anecdotally, official gold imports are expected to rise in February following the anaemic 28-month low in January of just 11 ton. Improved market sentiment bumped local prices back into premium during the third wee...
Gold demand in India in February improved: WGC
Gold demand in India in February improved: WGC
Source: IANS
8/03/2023 3:09:33 PM
Record central bank buying lifts global gold demand, WGC says Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council (WGC) said on Tuesday. Demand for gold was also strong from jewellers and buyers of gold bars and coins, the WGC said in its latest quarterly report, but exchange traded funds (ETFs) storing bullion for investors shrank. Gold is typically seen as a safe asset for times of uncertainty or turmoil, but many financial inv...
Record central bank buying lifts global gold demand, WGC says
Record central bank buying lifts global gold demand, WGC says
Source: Reuters
1/11/2022 4:00:09 PM
Q3 2022 gold demand shines in India The demand for gold went up by 14 per cent to 191.7 ton in India during the third quarter of this calendar year, said the World Gold Council (WGC) on Tuesday. According to the WGC, the gold demand in India was at 191.7 ton (value Rs 85,010 crore) during Q3 2022 as against 168 ton (Rs 71,630 crore) of the corresponding period in 2021. The jewellery demand for the period under review was at 146.2 ton up from 125.1 ton the previous year. On the other hand, the total investment demand fo...
Q3 2022 gold demand shines in India
Q3 2022 gold demand shines in India
Source: IANS
1/11/2022 10:01:46 AM
India`s demand for yellow metal rises 43% in Q2: World Gold Council Coming out of the grip of economic slump brought in by the coronavirus pandemic, Indias gold demand for the second quarter (April-June) increased by 43 per cent compared to the corresponding quarter last year, revealed the latest report by World Gold Council. Value-wise India's second quarter (Q2) 2022 gold demand value was Rs 79,270 crore, an increase of 54 per cent in comparison with Q2 2021 (Rs 51,540 crore). Total jewellery demand in India for Q2 2022 was up by 49 per cent at 14...
India`s demand for yellow metal rises 43% in Q2: World Gold Council
India`s demand for yellow metal rises 43% in Q2: World Gold Council
Source: IANS
18/08/2022 4:04:40 PM
Inflation, price rise could dent India`s gold demand in July-Dec -WGC India's gold demand in the first half of 2022 jumped 42% from a year ago but consumption in the second half could be lower than last year as higher inflation erodes disposable income, the World Gold Council (WGC) said on Thursday. Lower purchases by the world's second-biggest gold consumer could weigh on prices, which are trading near their lowest level in more than a year. But falling demand for gold imports could help narrow India's trade deficit and support an ailing rupe...
Inflation, price rise could dent India`s gold demand in July-Dec -WGC
Inflation, price rise could dent India`s gold demand in July-Dec -WGC
Source: Reuters
28/07/2022 9:18:18 AM
India's Q3CY21 YoY gold demand up 47%: WGC India's Q3CY21 gold demand rose 47 per cent on a year-on-year basis, said World Gold Council. Accordingly, the demand for gold in India for Q3CY21 rose 139.1 tonnes from 94.6 tonnes reported for the corresponding quarter of the previous year. Besides, the country's Q3FY21 gold demand value rose 37 per cent to Rs 59,330 crore on a YoY basis. Furthermore, total jewellery demand in India for Q3 2021 increased by 58 per cent to 96.2 tonnes on a YoY basis. As per WGC, a combina...
India's Q3CY21 YoY gold demand up 47%: WGC
India's Q3CY21 YoY gold demand up 47%: WGC
Source: IANS
29/10/2021 9:35:07 AM
India's gold demand could jump in Q4 on festivals, pent-up purchases - WGC MUMBAI - India's gold demand could strengthen significantly in the fourth quarter, the World Gold Council (WGC) said on Thursday, with a drop in global prices and the release of pent-up demand expected to lift jewellery sales during the peak festive season. Higher demand from the world's second-biggest gold consumer could help support spot prices after a near 5% correction so far this year, but a rise in imports of the metal would widen India's trade deficit and weigh on t...
India's gold demand could jump in Q4 on festivals, pent-up purchases - WGC
India's gold demand could jump in Q4 on festivals, pent-up purchases - WGC
Source: Reuters
28/10/2021 8:56:58 AM
Gold Exchange Traded Funds witness net outflow in August Gold-backed exchange traded funds (ETF) experienced net outflows in August of 22.4 tonnes, as North American outflows outweighed inflows into European and Asian funds, the World Gold Council (WGC) said. In a report, the WGC said that gold faced headwinds early in August as the dollar briefly strengthened and rising Treasury yields weighed on investment flows, triggering momentum selling shortly thereafter. "Gold prices recovered late in the month, but it did not spur sufficient off...
Gold Exchange Traded Funds witness net outflow in August
Gold Exchange Traded Funds witness net outflow in August
Source: IANS
10/09/2021 8:52:33 AM
Festivals, weddings to bolster India's gold demand in H2 - WGC MUMBAI - Indian gold demand is likely to recover in the second half of 2021 from 35% below the pre-pandemic five-year average in the first half, as festivals and weddings are likely to boost retail purchases in the fourth quarter, the World Gold Council (WGC) said on Thursday. Higher demand from the world's second-biggest gold consumer could support global prices that have corrected nearly 4% so far in 2021, although a rise in imports of the precious metal would widen India's trade...
Festivals, weddings to bolster India's gold demand in H2 - WGC
Festivals, weddings to bolster India's gold demand in H2 - WGC
Source: Reuters
29/07/2021 10:06:29 AM
World Gold Council, GJEPC partner for gold jewellery marketing in India The World Gold Council and Gem and Jewellery Export Promotion Council (GJEPC) have signed an agreement to promote gold jewellery in India in 2021. Under the terms of the agreement, both partners will jointly fund a multi-media marketing campaign that would aim to increase awareness, relevance and adoption of gold jewellery amongst Indian consumers, especially millennials and Gen Z. The World Gold Council's 'Retail Gold Insights: India Jewellery' report released last year rev...
World Gold Council, GJEPC partner for gold jewellery marketing in India
World Gold Council, GJEPC partner for gold jewellery marketing in India
Source: IANS
12/07/2021 1:02:28 PM
Global gold ETF flow subdued in June at 2.9 tonne Flows into global gold ETFs were mostly flat in June, with slight inflows of 2.9 tonne, worth $191 million. A report by World Gold Council (WGC) said that inflows into North American and Asian funds were primarily offset by outflows from European funds. "Overall, the positive flows came in spite of significant gold price weakness in the latter half of the month on the heels of a relatively hawkish Federal Reserve (Fed) outlook, suggesting that investors may have taken advantage of ...
Global gold ETF flow subdued in June at 2.9 tonne
Global gold ETF flow subdued in June at 2.9 tonne
Source: IANS
8/07/2021 5:44:29 PM
Central banks continue to remain positive on gold: WGC Survey Central banks continue to be positive on gold and around 21 per cent of the central banks around the globe intend to increase their gold reserves over the next 12 months, according to a survey jointly undertaken by the World Gold Council and YouGov. The '2021 Central Bank Gold Reserves (CBGR)' survey also noted that central banks are also increasingly valuing gold's performance during periods of crisis as this attribute now tops their rationale for holding gold. "These ...
Central banks continue to remain positive on gold: WGC Survey
Central banks continue to remain positive on gold: WGC Survey
Source: IANS
8/06/2021 2:58:50 PM
India`s gold demand could falter in June quarter on COVID-19 lockdowns - WGC MUMBAI  - India's gold consumption is expected to falter in the June quarter as various states are imposing lockdowns to arrest rising COVID-19 cases, dampening the celebration of weddings and key festivals, the World Gold Council (WGC) said on Thursday. Appetite for gold soared in the first quarter on pent-up demand after weddings were delayed in 2020 due to the COVID-19 pandemic. But an escalating crisis in India has prompted most state governments to impose curbs on the move...
India`s gold demand could falter in June quarter on COVID-19 lockdowns - WGC
India`s gold demand could falter in June quarter on COVID-19 lockdowns - WGC
Source: Reuters
29/04/2021 10:22:40 AM
Protecting refugees from COVID-19 a `global responsibility`, says Jordan`s king The world has a "global responsibility" to safeguard the health of refugees from COVID-19, Jordan's King Abdullah told a virtual meeting of leaders on Thursday after his country became one of the first to vaccinate refugees. Ensuring refugees and migrants get vaccinated is key to ending the pandemic through herd immunity, which requires a large portion of a community developing immunity to a virus either through natural infection or vaccination, experts say. "It is a ...
Protecting refugees from COVID-19 a `global responsibility`, says Jordan`s king
Protecting refugees from COVID-19 a `global responsibility`, says Jordan`s king
Source: Reuters
29/01/2021 10:06:23 AM
Gold demand drops to 11-year-low in 2020 on weak Q4 Global demand for gold plummeted 14 per cent in 2020 to an 11-year low of 3,759.6 tonne, showed the the World Gold Council's latest 'Gold Demand Trends' report. It was the first time since 2009 that gold demand plunged below the 4,000 tonne mark. The decline in annual demand is largely attributed to the 28 per cent year-on-year (YoY) fall to 783.4 tonne in the fourth quarter of 2020, making it the weakest quarter since the midst of the global financial crisis in Q2, 2008. ...
Gold demand drops to 11-year-low in 2020 on weak Q4
Gold demand drops to 11-year-low in 2020 on weak Q4
Source: IANS
28/01/2021 3:26:02 PM
India`s gold demand to rebound in 2021 as economy expands - WGC MUMBAI  - India's gold consumption is expected to rebound in 2021 after falling to its lowest in 26 years last year as pent-up demand and higher economic growth are seen boosting sales, the World Gold Council (WGC) said on Thursday. Higher purchases by the world's second-biggest bullion consumer could support gold prices, which hit a record high last year, although that could increase India's trade deficit and weigh on the ailing rupee. Coronavirus led-lockdowns slashed...
India`s gold demand to rebound in 2021 as economy expands - WGC
India`s gold demand to rebound in 2021 as economy expands - WGC
Source: Reuters
28/01/2021 10:40:58 AM