Polishing a diminishing sheen, sales of gold jewellery and coins are set to touch pre-COVID levels in volume terms on the auspicious Dhanteras festival,, Easing pandemic concerns and pent up demand saw consumers flocking to stores to buy the precious metal. Increased footfall at stores and brisk sales online as well as relatively softer gold […]
India’s gold demand has seen a 47 per cent year-on-year jump in the July-September quarter to 139.1 tonnes, following strong rebound in economic activity and recovering consumer demand, the World Gold Council said in a report. According to the World Gold Council (WGC), gold demand in India is bouncing back to pre-COVID levels and going […]
Ahead of the Diwali festive season, the price of nutmeg has escalated to Rs600 and Rs650 per kg. This is mostly because climate change and the two consecutive floods in Kerala have impacted nutmeg production over the last year. The state has also been witnessing unprecedented rains in the last two months which has further […]
India’s natural rubber (NR) production is expected to drop sharply in October and November, as heavy rains have been disrupting tapping activity in the country’s top NR producing state, Kerala. With production dipping India, the world’s second-biggest consumer of natural rubber, may have to increase imports in the coming months from Indonesia, Malaysia and Thailand, […]
India is open to the idea of a term deal with OPEC + to ensure price stability in crude supplies, Oil Secretary Tarun Kapoor said at the India Energy Forum by CERAWeek, erasing volatile price swings detrimental to the economic growth of Asia third-largest economy. He said such a crude supply deal could take a […]
The demand for gold is likely to remain subdued this year following Covid-related disruptions that continues in India, the World Gold Council (WGC) said in a report. However, in 2022, the impact of pent-up demand for the precious metal is likely to herald a period of robust demand, the report suggested. Demand for gold may be more […]
The World Steel Association (worldsteel) has forecast that steel demand will grow by 4.5% in 2021 and reach 1,855.4 million tronnes after 0.1% growth in 2020. In 2022, steel demand will see a further increase of 2.2% to 1,896.4 million tronnes. The current forecast assumes that, with the progress of vaccinations across the world, the […]
India’s gold imports touched about $ 24 billion during April-September 2021 due to higher demand in the country, according to data from the Commerce Ministry. Imports of the yellow metal was $ 6.8 billion in the corresponding period last year, the data showed. This will have a strong bearing on India’s current account deficit (CAD). […]
Care Advisory & Research said economies are coming back to normalcy leading to rampant demand and that is driving energy prices reflecting in the demand-supply mismatch. In an interview with CNBC-TV18, CARE’s director Tushar Shah said, “Australia and Indonesia are the two countries which are the biggest exporters of coal. India is one of the […]
Power consumption dipped by nearly 2 per cent or by 72 million units (MU) to 3,828 MU on Saturday compared to 3,900 MU on Friday, showing slight improvement in supply situation across the country amid coal shortage crisis, according to the power ministry data. According to the data, the power consumption of 3,900 MU on Friday or October 8 was […]
