India’s gold imports plunged 99.9% to three-decade low in April due to COVID-19 lockdown

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 […]

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De-dollarization push by China and Russia, among others might skyrocket gold prices even higher

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The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]

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Gold demand up 7% in Q1, boosted by central banks’ buying and India: WGC

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Global demand for gold grew to 1,053.3 tonnes in Q1, up 7 per cent year-on-year, according to the latest report by the World Gold Council (WGC). A big reason for the stronger demand is central banks, which continued to buy gold for diversification and liquidity purposes. Another is improvement in the India market. Central banks around the […]

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Highest central bank buying in 50 years drives growth in gold demand in 2018

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Global gold demand reached 4,345.1 tonnes (t) in 2018, up 4% on 2017 and in line with five-year average demand of 4,347.5t, according to the World Gold Council’s latest Gold Demand Trends report. The annual increase was driven by a multi-decade high in central bank buying and accelerated investment in bars and coins during the […]

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