India Gold Demand

Their family-run gold-loan business is surging as consumers tap rising bullion prices for quick cash, driving the firm's stock to a record and lifting the Muthoot family's wealth to new heights

The country's gold imports surged about threefold to hit a record high of USD 14.72 billion in October, mainly due to higher festival and wedding demand, according to commerce ministry data. Gold imports stood at USD 4.92 billion in October 2024. Cumulatively, imports during April-October this fiscal year rose 21.44 per cent to USD 41.23 billion from USD 34 billion a year ago. High gold imports have pushed the country's trade deficit (difference between imports and exports) to a record high of USD 41.68 billion in October. Prices of the yellow metal are hovering around Rs 1.29 lakh per 10 grams in the national capital. Commenting on the data, Commerce Secretary Rajesh Agrawal said the increase in imports could be attributed to festival demand. Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent). The precious metal accounts for over 5 per cent of the country's total imports.

Christopher Wood, global head of equity strategy at Jefferies expects gold prices to hit $6,600/oz going ahead, up 57 per cent from the current levels.

Overall gold consumption, however, fell 16 per cent to 209.4 tonnes as jewellery demand slumped 31 per cent to 117.7 tonnes due to record-high prices

As gold prices peak, Indian households still spend big on Dhanteras, showing how faith and finance continue to shape the country's festive buying patterns

Gold allocations amid the recent sharp run in prices may prompt portfolio rebalancing by strategic investors, WGC believes

As the gold rally continues with prices breaking record highs, here's a look at similar historical examples where gold surged, what caused that surge and what happened after

Apurva Sheth, head of market perspectives and research at SAMCO Securities believes that the recent buying frenzy in both gold and silver has been led by FOMO - buying out of fear of missing out

This holding is nearly 88.8 per cent of India's gross domestic product (GDP), the note said; and at the current market value is about 3.1x times the current equity stock holding with Indian households

Analysts at Nomura have initiated coverage of Titan with a 'Buy' rating and a target price of ₹4,275, highlighting the company's strong positioning relative to peers on a risk-weighted basis.

Gold outlook: As the Fed Chair Powell's focus has shifted from inflation to the weakening US job market, the US monthly job report will be critical for gold for short-term trading.

Gold outlook: Spot gold continues to find robust support from a confluence of macroeconomic factors, chief among them being the rapidly deteriorating fiscal landscape in major economies.

India is cutting its US Treasury holdings while adding more gold to its reserves; RBI data shows the shift is part of a global trend to diversify forex reserves and reduce risks from the dollar

Gold trading strategy: In the near-term, safe haven demand is somewhat subdued due to US-China trade truce extension and hopes from the upcoming US-Russia meeting in Alaska.

Gold faces a strong resistance at $3420 (₹102,300 at INR/USD rate of ₹87.43) as posed by the 4-month-old trendline.

President Trump said that US tariffs on semiconductor and pharmaceutical imports would be announced within the next week or so. Tariffs of pharmaceuticals could be as high as 250 per cent.

In their bear-case scenario, WGC sees gold prices dip 12 - 17 per cent in H2-CY25 finishing 2025 with positive but low double-digit (or even single-digit) return

This week, Indian dealers were offering a discount of up to $31 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies

Only authorised importers can now bring gold or silver under India-UAE CEPA; new codes introduced to curb gold misdeclared as platinum to avoid higher duties

Consumers are favouring chains over independent jewellers, shopping frequently, and spending more on gifts, Kalyan Jewellers' Executive Director Ramesh Kalyanaraman said in an interview