According to a report titled ‘Jewellery market structure’, released by The World Gold Council, while small independent retailers still dominate the landscape, the market share of chain stores (national and regional) has increased steadily over the last decade. Launched as part of a series of in-depth analysis on the Indian gold market, the report highlights […]
Gold prices hit a 29-month low last week, as the dollar and US Treasury yields rose on expectations the U.S. Federal Reserve will deliver a steep rate hike when it meets this week. The Fed, at the conclusion of its two-day policy meeting, is expected to raise interest rates by 75 basis points to combat stubbornly-high […]
The overall gems and jewellery exports rose by 6.7 per cent in August 2022 to Rs 26,418.84 crore ($ 3,316.08 million) compared to the same month last year, the Gem and Jewellery Export Promotion Council (GJEPC) said. The gems and jewellery exports stood at Rs 24,749.69 crore ($ 3,334.12 million) during August 2021, GJEPC said […]
Coming out of the grip of economic slump brought in by the coronavirus pandemic, Indias gold demand for the second quarter (April-June) of the current fiscal increased by 43 per cent compared to the corresponding quarter last year, revealed the latest report by World Gold Council. Value-wise India’s second quarter (Q2) 2022 gold demand value was Rs […]
Households in India may have piled up around 24,000-25,000 tonnes of gold, remaining the world’s largest holders of the precious metal, according to Somasundaram PR, managing director (India) of the London-headquartered World Gold Council (WGC). In value terms, this would approximately amount to over $ 1,135 billion, equivalent to more than 40% of India’s nominal […]
Prime Minister Narendra Modi will lay the foundation stone of the headquarters of the International Financial Services Centres Authority (IFSCA) on Friday at Gujarat International Finance Tec-City (GIFT City), India’s only International Financial Services Centre (IFSC). Apart from building of IFSCA, the unified regulator for the development and regulation of financial products, financial services and […]
India’s gold jewellery demand is likely to fall by 5 per cent to 550 tonnes this fiscal, mainly due to the hike in customs duty, according to a CRISIL report. Rating agency Crisil said the hike in customs duty on gold by 5 per cent to 12.5 per cent on June 30 is likely to […]
India’s merchandise exports rose by 23.5% in June from a year before even on an unfavourable base but a steep 57.6% jump in imports on the back of elevated global commodity prices drove up trade deficit to a new monthly record of $26.2 billion. With this, trade deficit in the June quarter jumped to a […]
After much delay, the country’s first gold spot exchange, IFSC International Bullion Exchange (IIBX), will become a reality with Prime Minister Narendra Modi set to inaugurate it GIFT-International Financial Services Centre (GIFT-IFSC) on July 15. The IFSC regulator IFSCA has already approved 56 qualified jewellers to import bullion and transact on the exchange. In August […]
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 […]
