Page 11 - Gold Demand
GST uncertainty clouds gold demand and import
Slide in gold import bill continues in FY 17 also but looking at the trend seen in March quarter it seems that slide will be arrested as demand continues to be good but projections of El Nino spoiling rural demand story and uncertainties over how Goods and Service Tax will be implemented will decide the trend for the gold. New gold policy in pipeline including talks of Adhar based KYC being extended for jewellery buying is another factor that could decide the trend for future gold demand. Import bill till February this financial year was $23.3 bn and 558 tons gold was imported. However good import trend has continued in March also and import is estimated around 80-85 tons which means estimated import bill for FY 16-17 around $26.8 bn (import estimate 640 tons for whole FY17). However the demand trend is expected to continue ahead of Akshaya Tritiya, an auspicious occasion when gold sales on a single day is quite high and falling on 28 April. Sudheesh Nambiath, Lead Analyst - Precious .
 "GST uncertainty clouds gold demand and import")
Gold demand eases on higher prices; premiums mostly unchanged
Higher prices prompted retail buyers to postpone purchases for wedding season
 "Gold demand eases on higher prices; premiums mostly unchanged")
Price correction boosts gold demand; Indian discounts fall to 3-month low
Dealers in India were offering discounts of up to $25 an ounce over official domestic prices
 "Price correction boosts gold demand; Indian discounts fall to 3-month low")