Page 33 - Gold

India's gold imports jump 21.78% to $27 bn in Apr-Sep due to strong demand

The country's gold imports, which have a bearing on the country's current account deficit (CAD), rose by 21.78 per cent to USD 27 billion during April-September this fiscal due to strong domestic demand, according to the government data. The imports stood at USD 22.25 billion in April-September 2023-24. An industry expert said that the ongoing festival demand is helping the increase in imports. In 2023-24, India's gold imports surged 30 per cent to USD 45.54 billion. Switzerland is the largest exporter of gold, 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. The jump in gold imports pushed the country's trade deficit (difference between imports and exports) to USD 137.44 billion during the first half of the current fiscal compared to USD 119.24 billion during April-September 2023. India is the world's second-biggest gold consumer after China.

Gold, silver ETF volumes up 5-fold in Dhanteras compared to last year

Gold and silver ETFs from Nippon India Mutual Fund, the largest in the category, alone recorded a combined volume of Rs 228 crore

Duty cut boosts India's gold demand to 248.3 tonne, up 18% in Q3: WGC

India's gold demand witnessed an 18 per cent on-year growth during the July-September quarter of this year to 248.3 tonnes, as the reduction in gold import duty resulted in a revival in jewellery demand, the World Gold Council (WGC) said in a report on Wednesday. The overall gold demand during the corresponding quarter of last year stood at 210.2 tonnes, according to the WGC's Q3 2024 Gold Demand Trends report. However, with gold prices ruling at all-time highs, there might be an increased trend for investors to wait for price corrections. The full-year gold demand is likely to be in the range of 700-750 tonnes, slightly less than last year, as Dhanteras and wedding season is likely to boost overall gold demand. In 2023, India's gold demand stood at 761 tonnes. On Tuesday, gold price rose by Rs 300 to Rs 81,400 per 10 grams, near its record high level, in the national capital due to heavy demand for Dhanteras by jewellers and retailers. In terms of value, gold demand went up by 53

India's gold demand to hit 4-year low amid price rally: World Gold Council

Gold demand in the world's second-biggest consumer of the precious metal could stand between 700 and 750 metric tons in 2024, the lowest since 2020 and down from last year's 761 tons

Rising investor gold demand offsets lower jewellery buying in Q3: WGC

Total demand for gold, including opaque OTC trading, rose 5 per cent to 1,313 tons, a record for a third quarter, the WGC said

Gold rate today: Yellow metal in 'overbought' zone, eyes $2800 in near-term

Gold prices today: Spot gold hit a fresh record high of $2,773.53 on October 29, 2024. Buying the dips is the preferred strategy

Growing strong: 60% gold reserves held domestically, shows RBI data

In the last five years, RBI gold reserves have increased from 618 metric tonnes to 854 metric tonnes

India's festive gold buying spree continues, defying record price

Indians were celebrating Dhanteras on Tuesday, a day considered auspicious for buying gold and one of the busiest gold-buying days in India

US election uncertainty, rate cut bets pin gold near record high levels

U.S. gold futures gained 0.2% to $2,760.80

RBI's domestically-held gold reserves jump 510.46 MT by end-September

As of end-September, the Reserve Bank of India (RBI) held 854.73 metric tonnes of gold, compared to 822.10 metric tonnes at the end of March

Gold vs diamonds: Which Diwali investment is likely to give better returns

Gold is a stable asset and it symbolises wealth, and prosperity. Diamonds' appeal is in rarity and uniqueness

Gold, silver prices set to increase amid global economic pressures: Report

Gold seen as stabilising force in diversified portfolios, especially during periods of low equity returns

BigBasket, Blinkit, Swiggy deliver gold, silver in 10 min this Dhanteras

Dhanteras 2024: Quick commerce platforms are offering 10-min delivery of gold from major jewellers including Tanishq and Malabar amid the festive rush

Gold dips Rs 10 at Rs 79,790; silver down to Rs 100; trading at Rs 97,900

The price of 22-carat gold also witnessed a drop of Rs 10, with ten grams of the yellow metal selling at Rs 73,140

Silver set to outshine gold in 12-15 months, may hit Rs 1.25 lakh

This forecast comes as silver has already demonstrated remarkable growth in 2024, achieving gains of over 40% and surpassing the Rs 100,000 mark domestically

Silver trumps gold with 30% YTD return, but experts advise caution

Gold has returned 23%, compared to 15% for the Nifty

Gold up Rs 10 at Rs 79,590; silver down to Rs 100; trading at Rs 97,900

The price of 22-carat gold also witnessed a rise of Rs 10, with ten grams of the yellow metal selling at Rs 72,960

Gold rate today: Yellow metal to trade range-bound; check strategy here

Gold Rate Today: Gold is well supported on the US deficit concerns as the US deficit is likely to increase irrespective of the US presidential election results

Gold falls Rs 10 to Rs 79,460, silver down Rs 100 trading at Rs 1,01,900

Price of ten grams of 24-carat gold in Mumbai is Rs 79,460 which aligns with prices in Kolkata, Bangalore, Chennai, and Hyderabad

Gold beats equity in most emerging mkts, except India: What should you do?

As emerging markets continue to face volatility and economic uncertainty, could gold's consistent outperformance signal a long-term trend?