Weekly Wrap Up – India’s festive season brings light to the tunnel of dreaded recession

IMG_1412.jpg

Two successive quarters of negative growth has sent India into a recession. However, concerns about the depth of India’s recession is slowly being replaced by optimism that a recovery is taking hold. A slew of indicators from car sales to services sector activity notched higher last month, while alternative data signal robust demand in an […]

Read more

Global demand for gold fell 19% during third quarter as pandemic hit hard, says WGC

IMG_20170114_160113.jpg

Global demand for gold during the third quarter of this year dropped by 19% on year to 892 metric tons, the lowest since that experienced during the third quarter of 2009 as consumers battled the effects of the pandemic, according to the World Gold Council. The year-to-date gold demand is down 10% on year at 2,972.1 […]

Read more

World Gold Council plans promoting digital gold for Indian consumers

Faced with an unprecedented decline in demand, the World Gold Council (WGC) is planning to start consumer marketing of gold in India through digital channels. In a conference call with Business Standard, David Tait, chief executive officer (CEO), WGC, said, “There is a feeling of depression in the bullion industry due to a sharp decline in retail demand. The recovery did not […]

Read more

SEBI board allows non-bank custodians to manage gold products

India’s regulator, the Securities and Exchange Board of India (SEBI) board has decided to allow non-banking custodians to manage gold-exchange traded funds (ETFs) and other gold-related products. Banking custodians can continue to provide these services, it stated after a meeting. The board decided to bring amendments to the SEBI (Mutual Funds) Regulations, 1996, in this […]

Read more

Gold demand in 2019 nudges lower as price-driven slump in consumer demand outweighs ETF inflows: WGC

Gold-bullion-vault.jpg

Global gold demand declined to 4355.7  tonnes in 2019, down 1% on 2018, according to the World Gold Council’s latest Gold Demand Trends report. The year 2019 was broadly one of two distinct halves; resilience and growth across most sectors in the first six months contrasted with widespread weakness in the second. Central bank demand […]

Read more