Gold Rush

Goldman Sachs expects gold prices to reach $3,150 per ounce (bull-case scenario; base case: $3,000/oz) by December 2025, an upside of around 17 per cent from the current levels

Thus far in calendar year 2024 (CY24), Brent crude oil prices hit a low of around $69 a barrel before breaching the $91 a barrel mark in April 2024 as geopolitical concerns rose

Firms store physical gold in vaults to back up the accumulated gold stored digitally in a user's account

Gold demand India: Gold prices, meanwhile, surged 18 per cent year-on-year (YoY) in the June 2024 quarter to $2,338.2 an ounce (oz), and were up nearly 13 per cent when compared with the December 2023

WGC defines gold ETFs as regulated securities that hold gold in physical form. These include open-ended funds traded on regulated exchanges and other regulated products like closed-end funds and MFs

The RBI net demand totaled 290 tonnes in the March 2024 quarter, up 1 per cent as compared to 286.2 tonnes in the March 2023, strongest start to any year on record, World Gold Council (WGC) said.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 73,160

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,440

India Witnesses the Dhanteras Gold Rush, Jewelry Sees a 595 percent Increase in Orders During the Diwali Season: Razorpay Festive Report

At the global level, the demand for gold (excluding OTC) was 8 per cent lower y-o-y at 948 tonnes. Combined with Q1-2022, the total demand in the first half of 2022 came in at 2,189t, up 12 per cent

Total fees for the top 10 gold ETFs, based on current prices and holdings, are about $610 million a year, according to a Bloomberg News calculation

Many shadow lenders have been effectively shut out of the nation's credit market as the more than 15-month-old banking crisis raises investor wariness about the financiers' ability to refinance debt

Silver also witnessed buying as it rose Rs 670 to Rs 47,680 per kg from Rs 47,010 per kg in the previous trade

Between Sutter's Mill in January 1848, and the Klondyke (in remote Northwestern Canada) in the late 1890s, the 19th century was regularly subject to gold rush