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 […]
Global Gold Exchange Traded Funds (ETFs) saw outflows for the third time in four months and recorded the seventh-worst historical monthly holding loss, according to the World Gold Council (WGC). Global assets under management now stand at 3,681 tons (US$207billion), which are levels last seen in June last year. The outflows were mostly driven by North […]
Gold-backed Exchange Traded Funds recorded their first net outflows in a year and second-largest monthly outflows ever in November, the World Gold Council said in a report. Gold ETF holdings decreased by 107 tonnes during the month equivalent to $6.8 billion or 2.9 per cent of assets under management. That came on the back of […]
After India’s nationwide lockdown caused gold jewellery demand to drop to a record low during the second quarter, there was a modest recovery during the third quarter to 52.8 tons, according to the World Gold Council (WGC). Still the demand was 48% lower on year – notching the third lowest quarter for Indian jewellery demand. “Not […]
Global demand for gold during the third quarter of this year dropped by 19% on year to 892 metric tons, the lowest since that experienced during the third quarter of 2009 as consumers battled the effects of the pandemic, according to the World Gold Council. The year-to-date gold demand is down 10% on year at 2,972.1 […]
In gold we trust has been an ancient adage in India. In times of the pandemic, this belief has only become rock solid. Nearly 75% of investors in India trust the precious metal more than any currency, while in China as many as 70% are of the same opinion, according to a World Gold Council […]
Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to $ 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the COVID-19 pandemic, showed data by the commerce ministry. In the corresponding period a year ago, gold […]
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 […]
World gold demand fell by 6% in the first half of the year amid covid-induced supply shortages, although record high inflows into Exchange Traded Funds cushioned the impact, according to World Gold Council. Demand during the second quarter declined by 11% to 1,015.7 tons. “The covid-19 pandemic was again the main influence in the gold market […]
While the online gold market in India is still in its nascent stage, accounting for only about 2 per cent of overall gold sales by value, the outbreak of COVID-19 and consequent closure of stores from mid-March might prompt increased online trade of gold in India, says a report from World Gold Council (WGC). India […]
