In tune with India’s penchant for yellow metal gold, the country’s bullion reserves at a whopping 607 tonnes is far ahead of Pakistan. Notably, India is the single largest consumer of gold and has the 11th largest gold reserve, with the current holding pegged at 607 tonnes, as per the latest report by the World […]
The upcoming Federal Reserve Open Markets Committee (FOMC) meeting on 20 March, 2019 is expected to confirm market expectations that the Federal Reserve (Fed) will remain on hold for the rest of the year. This, in turn, will likely influence gold’s performance. Our historical analysis shows that when the Fed has shifted from a tightening […]
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 […]
According to a new report by the World Gold Council, holdings in global gold-backed ETFs rose 72 tonnes in January 2019 to reach 2,513 tonnes (80.8 million troy ounces), hitting the highest levels in nearly six years. In dollar terms net inflows in January equaled $3.1 billion with the value of gold held in ETF vaults reaching […]
Gold-backed exchange-traded funds ended 2018 with new inflows globally as uncertainty about Britain’s exit from the EU drove investors to the perceived safety of European-backed ETFs, more than offsetting outflows in North America resulting from a strong U.S. dollar, says a Reuters report. Gold-backed exchange-traded funds (ETFs) worldwide registered net inflows of $3.4 billion, a […]
The World Gold Council and MMTC-PAMP India Pvt. Ltd. have jointly launched the ‘Precious Metals Assay and Training Institute’ (PMATI) to develop a new generation of skilled assayers. The initiative is a world class training facility that will establish assaying as a certified qualification and career in India, and will directly enhance the integrity of gold […]
The Reserve Bank of India (RBI) purchased 6.8 tonnes of gold in September 2018, taking its total gold reserves to 579.9 tonnes, the World Gold Council said, citing data from the International Monetary Fund’s International Financial Statistics. The central bank’s gold purchases came amid an intensifying trade war between China and the US, and increasing […]
Global gold demand was steady in Q3 2018 at 964 tonnes, up just 6 tonnes year-on-year, according to the World Gold Council’s latest Gold Demand Trends report. Robust central bank buying and a 13 per cent rise in consumer demand offset large outflows in gold-backed exchange-traded funds (ETFs). Lower gold prices saw retail investors take […]
Global gold demand remained muted in Q2 2018 at 964 tonnes, 4 per cent below the same period in 2017, according to the World Gold Council’s latest Gold Demand Trends report. Slower inflows into gold-backed exchange-traded funds (ETFs) created a weak comparison against the highs of last year, contributing to the lowest first half year […]
India’s gold demand in Q2 2018 was 187.2 tonnes, 8 per cent lower than the strong Q2 in 2017, when consumers rushed to make advance purchases ahead of the GST roll out, the World Gold Council (WGC) said. The demand for the same period in 2017 was 202.6 tonnes. In terms of value, the demand […]