Gold prices finished 0.6% higher at the end of the first half of 2022, closing at US$1,817/oz, the World Gold Council (WGC) said in its mid-year outlook, adding that it saw inflation, political risks and interest rate hikes as key headwinds in the remaining months of the year. “The gold price initially rallied as the Ukraine war […]
Gold experienced a relatively larger decline last week in the international market, following a string of sluggish sessions this week, and is now headed for its worst quarter in five as the hawkish tone from global central banks continues to dim the metal’s appeal. In India too, gold prices fell on Thursday, with 10 gram of […]
Gold-backed Exchange Traded Funds recorded their first net outflows in a year and second-largest monthly outflows ever in November, the World Gold Council said in a report. Gold ETF holdings decreased by 107 tonnes during the month equivalent to $6.8 billion or 2.9 per cent of assets under management. That came on the back of […]
Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year. Citigroup Inc. sees demand from the official sector rising to about 450 tonnes after a drop to 375 tonnes this year, which would be the lowest in a decade. […]
World gold demand fell by 6% in the first half of the year amid covid-induced supply shortages, although record high inflows into Exchange Traded Funds cushioned the impact, according to World Gold Council. Demand during the second quarter declined by 11% to 1,015.7 tons. “The covid-19 pandemic was again the main influence in the gold market […]
Gold has had a sizzling run since last year, rising by over 25% through 2019 and then adding another 17% since the start of the year till date. As the Covid-19 pandemic has prompted a widespread reassessment of global economic prospects, investors have rotated into safe-haven assets, including gold, the World Gold Council said in a recent […]
Gold prices hitting the roof with each bad news during this pandemic crisis is evident. The well-accepted theory that the yellow metal shines when real interest rates are very low or even negative is coming true for gold. So far this year, the gold price has gone up by over 12% on the back of a surge in […]
Globally, gold-backed ETFs (gold ETFs) added 170 tonnes – net inflows of $9.3bn (+5.1%) – in April, boosting holdings to a new all-time high of 3,355 tonnes. Assets under management (AUM) also reached a new record high of $184 billion as gold in US dollars moved higher by 5.8%. Inflows have been strong and consistent […]
India’s gold imports plunged 99.9 per cent year-on-year in April to their lowest in nearly three decades as air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus. The world’s second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 […]
The Reserve Bank of India (RBI) bought 7.5 tonnes of gold in October 2019 for adding to its foreign exchange reserves, which swelled to $461 billion, including $28 billion in gold. The purchase was made after five months, the World Gold Council (WGC) said. The RBI now holds 625.2 tonnes of gold or 6.6 per […]
