India splurged a record $55.7 billion on gold imports in 2021, buying more than double the previous year’s tonnage as a price drop favored retail buyers and pent-up demand emerged for weddings that were delayed when the pandemic first hit. The 2021 gold import bill easily doubled the $22 billion spent in 2020 and surpassed […]
A fledgling recovery in India’s gold demand in the first three months of this year (Jan-Mar 2021) is likely to be abolished by the explosive increase in coronavirus infections that keeps people at home, dampening sales during the key wedding season. Purchases in the world’s second-biggest consumer jumped 37% in the January to March period […]
The government of India sold sovereign gold bonds worth Rs 822 crore, during an issue that ended days before Akshaya Tritiya on 26 April. The amount of bonds sold was the third-highest ever during a gold bond sale, and the highest since September 2016. Even the quantity of underlying gold pertaining to the bonds sold in April, at […]
Flower farmers across the country have started uprooting full blossom plants amid difficulty in selling their produce following the closure of several mandis and shops because of the nationwide lockdown. Maintaining flowers in and off the field requires heavy investments and favourable climate. But, transportation to cold storages has become tough because of unavailability of labourers and […]
Physical gold demand was subdued in major Asian hubs last week on account of the Lunar New Year holidays, with growing fears the coronavirus outbreak in China could further dampen activity, reports Reuters. China, the world’s biggest gold consumer, is ramping up measures to contain a virus that has killed 26 people, suspending public transport […]
Gold imports to India rose last month despite local prices trading near the highest in more than five years, as jewelers start to restock for the wedding season. The wedding season starts this month and purchases will jump during the second-biggest gold-buying day of Akshaya Tritiya in early May. Inbound shipments grew by 64 per cent […]
