Page 3 - Gold Sales

Gold extends slide as hawkish Federal Reserve, firm dollar dominate mood

The U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS) report is expected at 1400 GMT. The September non-farm payrolls data is due on Friday

Inflows into gold ETF hit 16-month high at Rs 1,028 crore in August

Gold exchange-traded funds (ETFs) attracted Rs 1,028 crore in August, making it the highest inflow in 16 months, amid continued hikes in interest rates in the US, which led to a slowing down in growth rate there. With this, the year-to-date inflow in the category has reached more than Rs 1,400 crore, data with the Association of Mutual Funds in India (Amfi) showed. Apart from inflow, the asset base of Gold ETFs and investors' account or folio numbers increased in the period under review. According to data, gold-linked ETFs have seen an inflow of Rs 1,028 crore in August. This came following an inflow of Rs 456 crore in the segment in July. Before that, Gold ETF saw inflow to the tune of Rs 298 crore during the April-June period after three quarters of consecutive outflow. The category saw a withdrawal of Rs 1,243 crore in the March quarter, Rs 320 crore in the December quarter, and Rs 165 crore in the September quarter. The month of August witnessed the highest monthly inflow into

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

Akshaya Tritiya: Jewellers expect pick up in sales as gold prices soften

The recent softening of the gold price has supported demand for the yellow metal on the auspicious day of Akshaya Tritiya and jewellers have been witnessing steady footfalls since morning. "Since morning the footfalls have been good, mostly supported by the price coming down to around Rs 56,500 levels for 22 karat gold," All India Gem and Jewelry Domestic Council (GJC) chairman Sayam Mehra told PTI. People are buying new jewellery, mostly in light weight, and also picking up the pre-booked items. The footfalls are expected to increase as the day progresses, Mehra said. Jewellery from 5-33 grams and coins in 1-2 grams range are popular this year, he said, adding that this year, after Hallmarking, jewellery has become more popular than coins. "This year we expect business to be around 17-18 tonnes in terms of volume on Akshaya Tritiya. Last year, people bought wedding jewellery as the marriage season was immediately after Akshaya Tritiya. However, this year it's in June-July, so the

RBI's gold reserves rise further, up nearly 25 tonnes so far this year

The reserves had increased by 100 tonnes in the last two years; currently stand at 785.35 tonnes

India's festival gold sales to shine less brightly this year, says WGC

Demand for gold jewelry, coins and bars typically peaks in the world's second-biggest consumer over October to December, driven by festivals including Diwali

Despite price fall, domestic gold trading at a discount to imports

In Mumbai, the yellow metal is going at a discount of $7-10 per ounce while in Ahmedabad it is $7

Gold's allure to dim in India due to lower rural income, says report

Gold consumption surged to 800 tons last year as the easing of virus-related restrictions unleashed demand. The jump in demand and rising imports forced the government to raise the import tax on gold

Gold jewellery demand in India likely to dip in H2: World Gold Council

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

Gold underperforming but make it part of your inflation-combating portfolio

It may underperform in the near term, but could bounce back if fears of a US recession gain ground

Gold drives retreat across metals as dollar accelerates to 20-year high

(Reuters) - Gold and other precious metals dropped on Thursday, with palladium shedding more than 8%, as investors flocked to the dollar driven by bets the U.S. Federal Reserve will stick to aggressive rate hikes.

10 gm of gold selling at Rs 51,510, silver trading at Rs 62,300 a kg

The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes

Gold trading at Rs 52,630 per 10 gm today; silver selling at Rs 66,800 a kg

The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.

India's gold mine output 1.6 tonnes in 2020; may rise to 20 tonnes/yr: WGC

India's gold mine production stood at a mere 1.6 tonnes in 2020 but could rise to 20 tonnes per year in the long-term, World Gold Council said on Thursday.

India's gold demand skyrockets to 797.3 tons in 2021: World Gold Council

The spurt in demand that is, in part, a result of pent-up demand in the fourth quarter is less likely to be repeated this year, though the revival will continue to set a new normal above pre-pandemic

Bumper wedding season may help push Indian gold imports to 6-year high

A recovery in consumer confidence and a retreat in gold prices from last year's peak are likely to further bolster demand

Gold jewellers see best Dhanteras in three years amid pent-up demand

According to market veterans, on average gold sales are estimated around 20-30 tonnes on the day of Dhanteras

Top headlines: Jewellers strike gold on Dhanteras, TMC wins all 4 by-polls

Ola posts first-ever operating profit of Rs 90 cr in FY21; Logistics startup Delhivery files DRHP with Sebi. More on top headlines for this evening

Here is how coronavirus outbreak is changing the way Indians buy gold

While buyers have been slowly shifting away from the thousands of family-run jewelry shops that control the bulk of the world's second-biggest gold market, the pandemic has sped up the process

Titan shines as focus shifts from recovery to demand-led growth

Healthy demand for wedding jewellery, market share gains boosts share price to all-time high