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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Gold-backed ETFs post $1.3 billion outflow in November 2019: WGC

Gold-backed ETFs saw $1.3 billion of net outflows across all regions in November, according to the latest monthly data from the World Gold Council (WGC), driven by a stronger dollar, a Brexit extension, and stronger equity markets from September and October highs. However, global gold-backed assets under management still grew 35 per cent this year as a […]

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India’s gold imports down for five months in a row amid slowing economy, rising metal prices

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India’s gold imports in November 2019 declined for the fifth month as elevated prices and the slowest economic growth in six years curbed demand during the peak wedding season. Inbound shipments dropped 19 per cent from a year earlier to 56.1 tonnes, according to a Bloomberg report. That makes it the lowest shipment for the […]

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Rising gold prices boost India’s forex reserves

The Reserve Bank of India’s (RBI’s) strategy to add gold to forex reserves has started bearing fruits. The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling. According to the RBI’s forex reserves data, put out every week, its foreign currency reserves […]

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