Chain stores comprise 35% of India’s retail gold jewellery market, poised to grow in the next 5 years; reveals World Gold Council report

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 […]

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India’s demand for gold rises by 43% in June quarter as economy recovers: WGC

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 […]

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Gold reserves in India’s households valued at over 40% of GDP: WGC report

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 […]

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PM Modi to launch global bullion exchange at GIFT city, Ahmedaabad on 29 July

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 […]

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India’s first spot bullion bourse to go live at IFSC, Gujarat from 15 July, 2022

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 […]

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