Q1: Can you shed some light on how the gold demand globally and in India has played out in the December quarter and in calendar year 2021? Ans:
Global rise in demand led by consumers’ appetite
Lack of spending avenues, softer gold prices saw consumers turn to gold
Indian demand exceeded estimates in the December 2021 quarter
Q2: Given the US Fed meet outcome and possibility of a hike in rates, how do you see the demand for the yellow metal pan out in 2022? Ans:
Pent-up demand got released in 2021
2013 saw the best quarterly demand till now; 2021 even beat that
Gold price was 40% lower in 2013 compared to the current level
Higher savings, increased mobility and affordability to aid demand rise in 2022
Q3: Can you quantify the demand and price expectation in 2022? Ans:
Interest rates/ real interest rates, inflation to fuel demand rise in 2022
December quarter proves conventional wisdom about gold that as a safe-haven asset
Gold demand may go back to pre-pandemic and pre-demonetisation levels in 2022
Q4: How do you see the global central banks respond to this going ahead? And the gold ETF demand in India and globally? Ans:
ETF demand: Inflow of 9 tonnes in India
Global central bank demand was healthy in 2021 and expected be so in 2022
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