Page 2 - Gold Demand In India

Gold falls Rs 10, silver declines Rs 100; yellow metal trading at 77,230

The price of 22-carat gold dipped Rs 10, with ten grams of the yellow metal selling at Rs 70,790

Gold jumps Rs 750, silver increases by Rs 5,000 per kg to all-time high

Gold prices surged by Rs 750 to hit a record high of Rs 80,650 per 10 grams while silver skyrocketed by Rs 5,000 per kg in the national capital on Monday, according to the All India Sarafa Association. Extending its gains for the fourth straight day, silver prices spurted by Rs 5,000 to hit a fresh record high of Rs 99,500 per kg from the previous close of Rs 94,500 per kg on Friday. According to commodities market experts, the ongoing bullish sentiment in the silver market is primarily driven by industrial demand and gold's rally. Silver's upward momentum appears strong. Investors are likely to continue to view dips as buying opportunities, keeping the white metal well-supported in the coming sessions, they said. Additionally, gold of 99.5 per cent purity climbed Rs 750 to hit a new record high of Rs 80,250 per 10 grams. The metal of 99.5 per cent purity had ended at Rs 79,500 per 10 grams while gold of 99.9 per cent purity had settled at Rs 79,900 per 10 grams on Friday. Bullion

Festive hopes fade for India's gold industry after surge in price

Consumers are opting for lighter, more affordable jewellery to stay within budget

Indian gold demand buoyed by import tax cut ahead of wedding season

Imports more than tripled to 140 tons in August from the previous month, according to the World Gold Council

India's gold demand drops 5% in June quarter; up 14% in value term: Report

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

Why is China turning its back to gold jewellery? Chris Wood explains

In dollar terms, gold prices hit $2,331/oz at the end of H1-CY24, according to WGC data, rising 12.1 per cent during this period

Gold price rises Rs 10 to Rs 72,160, silver slips Rs 100 to Rs 89,900

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,310, Rs 66,160, and Rs 66,670, respectively

Gold slips Rs 10, silver gains Rs 100; yellow metal trading at Rs 72,210

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,340, Rs 66,190, and Rs 66,960, respectively

Gold price declines Rs 10 to Rs 72,810, silver rises Rs 100 at Rs 87,300

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,960, Rs 72,810, and Rs 72,970, respectively

Gold price slips Rs 10 to Rs 72,150, silver rises Rs 100 to Rs 85,300

The price of 22-carat gold also went down by Rs 10, with the yellow metal selling at Rs 66,140

Gold price slips Rs 10 to Rs 72,260, silver down Rs 100 at Rs 84,900

The price of 22-carat gold also went down by Rs 10, with the yellow metal selling at Rs 66,360

Gold price falls Rs 10 to Rs 71,500, silver falls Rs 100 to Rs 82,900

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 65,690, Rs 65,540, and Rs 66,340, respectively

India's gold demand rises 8% in Jan-Mar to 136.6 tonne despite high rate

India's gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand. India's gold demand in value terms rose 20 per cent on an annual basis to Rs 75,470 crore during the January-March period of this year on volume growth as well as a rise in quarterly average prices by 11 per cent. On Tuesday, the World Gold Council (WGC) released its global report 'Gold Demand Trends Q1 2024', showing that India's total gold demand, including both jewellery and investment, increased to 136.6 tonne in January-March this year from 126.3 tonne in the year-ago period. Out of the total gold demand, the jewellery demand in India increased 4 per cent to 95.5 tonne from 91.9 tonne. The total investment demand (in the form of bar, coin among others) grew 19 per cent to 41.1 tonne

Gold prices hover near record high amid growing geopolitical tensions

Citi projected gold prices to trade at $3,000 per ounce over the next 6-18 months

Q3 gold demand up 10%; price to play key role in Dhanteras buying

Gold demand in India, the world's second-largest consumer of the yellow metal, rose 10 per cent to 210.2 tonnes during the third quarter of this calendar year, aided by softening of gold prices and festive demand, according to the World Gold Council (WGC). Speaking to PTI, WGC India Regional CEO Somasundaram PR said gold prices softened a bit during the last quarter but now they have started inching up. Prices will play a critical role during the Dhanteras festival and wedding season in the next two months. Trade feedback is that consumers have accepted the Rs 60,000 per ten-gram price point, so a downward correction could trigger a significant jump in demand. Dhanteras is considered the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils, to other valuables. Releasing the quarterly gold demand report, the WGC said India's gold demand increased to 210.2 tonnes during the third quarter of 2023 calendar year, from 191.7 tonnes in the ..

Gold demand in India dips 7% YoY in June 2023 quarter as prices rise: WGC

High gold prices, and a knee-jerk reaction to the ban on Rs 2,000 notes during the recently concluded quarter, WGC said, also dented sentiment for gold

Gold demand in India this year could fall 10% to hit 3-year low: WGC

In the June quarter, scrap supplies jumped 61% from a year ago to 37.6 metric tons, the highest in nearly 3 years, the data showed

India's gold demand in Jan-Mar drops by 17% due to high prices: WGC

Sharp rise in gold prices and volatility combined with fewer auspicious days to trigger consumption, has led to many households deferring buying perhaps in anticipation of a downward price correction

India's gold demand hits pre-pandemic levels; Q3 gold demand up 14%: WGC

India's gold demand has reached pre-pandemic levels and has witnessed an annual growth of 14 per cent during the July-September quarter at 191.7 tonnes mainly driven by strong consumer interest, according to a World Gold Council (WGC) report. According to the 'Gold Demand Trends Q3 2022' report by WGC, the total demand stood at 168 tonnes during the July-September quarter of 2021. In value terms, gold demand grew by 19 per cent to Rs 85,010 crores during the third quarter of 2022, compared to Rs 71,630 crores in the corresponding period of 2021. India's total gold demand in the third quarter of 2022 at 191.7 tonnes is a 14 per cent increase over last year, which reflects better-than-expected performance and strong consumer interest, helping year-to-date demand return to pre-COVID levels, Somasundaram PR, Regional CEO, India, World Gold Council told PTI. Meanwhile, total jewellery demand in India during the third quarter increased by 17 per cent at 146.2 tonnes, compared to 125.1 ..

Somasundaram PR on how gold demand will pan out in 2022

The demand for gold jewellery hit a six-year high in 2021. Business Standard caught up with Somasundaram PR, Regional CEO, India, World Gold Council, to understand how the demand may pan out in 2022