Global Gold Exchange Traded Funds (ETFs) saw outflows for the third time in four months and recorded the seventh-worst historical monthly holding loss, according to the World Gold Council (WGC). Global assets under management now stand at 3,681 tons (US$207billion), which are levels last seen in June last year. The outflows were mostly driven by North […]
As indicated in our report yesterday, gold prices in India fell to Rs 44,768 per 10 gm in the national capital, in line with bleak trend in the international market. In New Delhi, the price of 22-carat gold slipped by Rs 950 to Rs 44,250 per 10 gm, while in Chennai it inched down by Rs […]
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 […]
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 […]
After a spectacular rally this year, gold prices in India has come down from the all-time high level of over Rs 54,000 to near Rs 50,000 level. It closed the week at Rs 50,700 per 10 grams. Gold has been shining bright in the past three months. Due to the rally in gold prices, gold […]
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 […]
Gold backed Exchange traded funds recorded their tenth straight month of net inflows during September, a stretch matched only by periods seen in 2008 and 2016, according to the World Gold Council.. This has taken the gold assets under management to a record high of 3,880 tons, which is equal to a value of $235 billion. […]
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 […]
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 […]
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 […]
