India’s gold refining industry has seen whopping growth in recent years with capacity increasing by an whopping 500% between 2013 and 2021, the World Gold Council (WGC) said in a report, adding that the informal sector perhaps accounted for as much as an additional 300-500t. According to the report, advantageous custom duty on gold doré […]
Gold jewellery demand of 474t in the first quarter of this year was relatively soft, particularly when compared with the bumper previous quarter, but much of the decline can be accounted for by China and India, which together tend to generate between 55-60% of total quarterly jewellery consumption, the World Gold Council (WGC) said in […]
Global gold prices rose 8% in the first three months of 2022, the best quarterly performance since Q2 2020, after rising a further 2% in March, as rapidly rising inflation and unexpected geopolitical risks more than offset the drag from higher nominal rates, the World Gold Council (WGC) said in its latest monthly report, adding […]
Imports made up 86 per cent of India’s gold supply between 2016-2020, and inbound shipments continue to grow despite high import duty, as per a report by the World Gold Council (WGC). Since the first duty hike in 2012, India has imported some 6,581 tonnes of gold, averaging 730 tonnes per annum, according to WGC’s […]
Polishing a diminishing sheen, sales of gold jewellery and coins are set to touch pre-COVID levels in volume terms on the auspicious Dhanteras festival,, Easing pandemic concerns and pent up demand saw consumers flocking to stores to buy the precious metal. Increased footfall at stores and brisk sales online as well as relatively softer gold […]
India’s gold demand has seen a 47 per cent year-on-year jump in the July-September quarter to 139.1 tonnes, following strong rebound in economic activity and recovering consumer demand, the World Gold Council said in a report. According to the World Gold Council (WGC), gold demand in India is bouncing back to pre-COVID levels and going […]
The World Gold Council today launched a new report “Gold and climate change: Decarbonising investment portfolios”, which looks at gold’s potential impact on the carbon profile of investment portfolios and their alignment with climate targets. This report aims to provide investors and stakeholders with a greater understanding of the implications regarding the transition to net […]
Gold-backed exchange traded funds (ETF) experienced net outflows of 22.4 tonnes in August 2021, as North American outflows outweighed inflows into European and Asian funds, the World Gold Council (WGC) said. In a report, the WGC said that gold faced headwinds early in August as the dollar briefly strengthened and rising Treasury yields weighed on investment flows, triggering momentum […]
Consumer investment in gold increased in the second quarter of 2021 but some investors were less bullish, according to the World Gold Council’s latest Gold Demand Trends report. The two forces helped create a gold demand of 955.1 tonnes over the quarter, a 9% rise from the first quarter of 2021. Last year, the demand for […]
Improved sentiment, as inflation concerns grew, interest rates fell and the US dollar weakened, helped lift gold in April, but rising Covid-19 cases in India could weigh on consumer demand going forward though investment will be supported, the World Gold Council (WGC) said in its monthly report. “Rising inflation expectations and questions around central bank tapering […]
