Gold’s time to shine is not there yet

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Gold prices have fallen by around 18% since their all-time high of $2,074.88/troy ounce reached in August last year.The precious metal has been hovering around $1,700/troy ounce as rising bond yields have tempted investors to switch their bets since the past few weeks. Part of the reason for the waning interest in gold has been […]

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India’s gold imports plunged 99.9% to three-decade low in April due to COVID-19 lockdown

India’s gold imports plunged 99.9 per cent year-on-year in April to their lowest in nearly three decades as air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus. The world’s second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 […]

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World Gold Council plans promoting digital gold for Indian consumers

Faced with an unprecedented decline in demand, the World Gold Council (WGC) is planning to start consumer marketing of gold in India through digital channels. In a conference call with Business Standard, David Tait, chief executive officer (CEO), WGC, said, “There is a feeling of depression in the bullion industry due to a sharp decline in retail demand. The recovery did not […]

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A comprehensive gold policy in the current context could be a game changer, says WGC

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Gold prices have been volatile as country after country faces an economic slowdown in the face of an impending global recession triggered by a vicious spread of the dreaded coronavirus, infecting millions and killing tens of thousands of people. However, Somasundaram PR, Managing Director (India), World Gold Council, strongly believes that the yellow metal will become […]

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India’s January gold imports plunge 48% to four-month low: Report

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India’s gold imports in January plunged 48% from a year earlier to their lowest level in 4 months as a rally in local prices near record highs prompted buyers to curtail purchases, Reuters reported ascribing the news to a government source. India, the world’s second-biggest buyer of gold imported 36.26 tonnes in January, compared with […]

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Gold demand in 2019 nudges lower as price-driven slump in consumer demand outweighs ETF inflows: WGC

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Global gold demand declined to 4355.7  tonnes in 2019, down 1% on 2018, according to the World Gold Council’s latest Gold Demand Trends report. The year 2019 was broadly one of two distinct halves; resilience and growth across most sectors in the first six months contrasted with widespread weakness in the second. Central bank demand […]

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Gold ends 2019 on shiny note; may hit Rs 45,000 per 10 gram in 2020

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Gold is set to remain more expensive in the New Year as continuing geopolitical tremors, economic woes and rupee volatility are expected to push the yellow metal even to Rs 45,000 for 10 gram, says a PTI report. Thanks to various government policies and soaring stock market, gold witnessed periodic as well as steep price fluctuations in […]

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Turkey to ease gold imports

Turkey is putting the finishing touches on a plan to loosen rules that govern the import of gold to one of the world’s biggest consumers of the precious metal. The Turkish treasury is drawing up changes that would allow the certification and standardization of scrap or unregistered gold people may carry when entering Turkey, Bloomberg […]

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