Everybody and their aunt are punting on gold during the pandemic, but none want to go to jewellery shops. This paradox is crushing the retail business in top consumer India, where traditionally the bulk of gold demand comes from jewellery. However, gold’s meteoric rise to record high prices and a nationwide lockdown to check the […]
After witnessing a rare trade surplus of $800 million in June, India’s trade deficit climbed to $ 6.77 billion, a four-month high. The latest surge is being attributed to a 171 per cent surge in gold imports, reflecting pent-up demand as well as elevated prices, with expectations of further imports in the run-up to the festive season. India’s […]
Gems and jewellery exports rose by 29.18 per cent to Rs 13,160.24 crore ($ 1,764.06 million) in August compared with the previous month following gradual growth in demand in the US, China, Europe among others, the Gem and Jewellery Export Promotion Council (GJEPC) said. The total shipments in July stood at Rs 10,187.04 crore ($ […]
Global mining deal value, suffering from an unanticipated shock from the covid-19 pandemic, fell by over $18 billion when compared to the first half of 2019 to $46.6 billion in the first half of 2020, GlobalData reports. The global economic slump, steered by a series of challenges, has kept investors away from long-term financial instruments, […]
The uncertainty over U.S. presidential election that appears headed for a tight finish is set to drive up the demand for gold and silver coins in the coming weeks, according to participants at a webinar organised by the London Bullion Market Association. Democrat candidate Joe Biden is holding a slender lead over President Donald Trump, who is […]
Gold-backed ETFs and similar products recorded their ninth consecutive month of inflows in August 2020, albeit at their slowest pace for 2020, says a report from World Gold Council (WGC). Collectively, gold ETFs, added 39 tonnes during the month, equivalent to $ 2.1 billion or 0.9% of assets under management (AUM) as the price of […]
During the inauguration of India’s first virtual buyer-seller meet on loose diamonds, gems and jewellery industry projected India’s exports to decline by 25-30 per cent in the current fiscal as there was a “complete washout” of the first quarter due to lockdown. “There was a complete shutdown during the first quarter of this financial year […]
Gold prices in India bucked the trend of rising in tandem with the global price rally for the first time in eight months. A stronger rupee seems to be the reason behind Indian gold prices giving up some gains in August 2020. In August, MCX gold shed 3.26 per cent from the previous month. However, […]
Indian gold investors are eyeing the Reserve Bank of India’s latest tranche of sovereign gold bond offering as an entry point for making fresh purchases in the precious metal, which has pulled back a bit after hitting a record high in the first week of this month. The sovereign gold bond opens today (August 31) […]
The global economy won’t return to pre-pandemic levels for another two years, according to the Organisation for Economic Co-operation and Development (OECD). The economies of the 37 developed nations that make up the group shrank an unprecedented 9.8% during April, May and June due to the impact of COVID-19. And the path to recovery is […]
