Page 3 - India Gold Demand

Gold dips Rs 10, silver down Rs 100; yellow metal selling at Rs 87,370

The price of ten grams of 24-carat gold in Mumbai, Kolkata, and Chennai stood at Rs 87,370

Gold jumps Rs 250 to Rs 89,350 per 10 gm amid rupee depreciation concerns

Gold prices jumped by Rs 250 to Rs 89,350 per 10 grams on Tuesday extending gains for the second day amid depreciation in rupee, according to the All India Sarafa Association. The gold of 99.5 per cent purity rose by Rs 250 to Rs 88,950 per 10 grams from the previous close of Rs 88,700 per 10 grams. On February 20, gold of 99.9 per cent and 99.5 per cent purity hit all-time highs of Rs 89,450 and Rs 89,050 per 10 grams, respectively. However, silver prices slipped below the Rs 1 lakh mark, falling by Rs 500 to Rs 99,500 per kg. "Silver fell due to weakness in the industrial metals and rebound in the dollar index. Global equity markets are also struggling due to Trump's tariff fears and pressure on industrial metals but reversal in the US Treasury yields could support silver prices at lower levels," Rahul Kalantri, VP Commodities at Mehta Equities Ltd, said. On Tuesday, the rupee fell sharply by 51 paise to settle at 87.23 (provisional) against the US dollar due to month-end dollar

Feb gold imports likely to tumble 85% at 20-year low on record high prices

India's gold imports in February are likely to fall to around 15 metric tonnes, the lowest for the month in at least two decades, from 103 tonnes in February, 2024

Amid strong global trends, gold jumps to all-time high of Rs 89,400

Gold price jumped by Rs 900 to revisit the all-time high of Rs 89,400 per 10 grams in the national capital on Wednesday amid strong global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 88,500 per 10 grams in the previous trading session. On February 14, it rallied by Rs 1,300 to hit a lifetime high of Rs 89,400 per 10 grams in the local markets. So far this year, price of gold has surged Rs 10,010 or 12.6 per cent to Rs 89,400 per 10 grams as compared to Rs 79,390 grams on January 1. Additionally, the yellow metal of 99.5 per cent purity rallied by Rs 900 to reclaim its all-time high level of Rs 89,000 per 10 grams. It had closed at Rs 88,100 per 10 grams in the previous session. According to experts, gold extended its gain on Wednesday, buoyed by safe haven demand and persistent buying amid President Trump's new tariff threats, combined with rising geopolitical uncertainty. Silver price also increased by Rs 600

Gold imports jump 40.79% to $2.68 bn in Jan on increase in demand

The country's gold imports in January rose by 40.79 per cent to USD 2.68 billion on account of increasing domestic demands, according to commerce ministry data. Gold imports stood at USD 1.9 billion in January 2024. Cumulatively, imports during April-January this fiscal year rose 32 per cent to USD 50 billion against USD 37.85 billion in the same period last fiscal year. The increase in imports also indicates strong investor confidence in the precious metal as a safe asset. The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, and cut in customs duties. Prices of the yellow metal have increased 11 per cent so far this year to Rs 88,200 per 10 gram in the national capital. India's gold imports, which have a bearing on the country's current account deficit (CAD), surged 30 per cent to USD 45.54 billion in 2023-24. Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (ov

Procedure laid out for filing applications for gold bullion import from UAE

The government on Wednesday laid out a procedure for filing applications of import of gold bullion at concessional duty in 2025-26 under a free trade agreement (FTA) with the UAE. The agreement, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA), came into force on May 1, 2022. Under the agreement, India agreed to import up to 200 metric tonnes of gold annually from the UAE with a 1 per cent tariff concession under tariff rate quota (TRQ). The Directorate General of Foreign Trade (DGFT) in a trade notice said the last date for submitting the applications for 2025-26 is February 28 this year. The applicants will also have to indicate the purpose of gold import -- for manufacturing, trading or both. Besides they have to provide turnover details, it said, adding, "the modalities of allocation of 180 ton shall be decided by the special EFC (Exim Facilitation Committee) in its first meeting based on the information and details available before the committee". In

US demand squeezes India's gold supply, leasing rates rise to record high

Higher leasing rates are driving up jewellery production costs in the world's second-largest gold consumer and could squeeze margins of jewellers such as Titan, Kalyan Jewellers

Gold consumption in India to cool in 2025 as prices soar, says WGC

Demand for gold could stand between 700 metric tonnes and 800 metric tonnes, compared to last year's 802.8 tonnes

Gold prices remain flat at Rs 84,900 per 10 g, silver rallies Rs 700

Gold remained flat at its all-time high price of Rs 84,900 per 10 grams in the national capital on Saturday, according to the All India Sarafa Association. On Friday, the precious metal price of 99.9 per cent purity rose for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams driven by robust domestic demand. Gold has rallied by Rs 5,510 or 7 per cent since January 1 when the metal traded at Rs 79,390 per 10 grams in the local market. The yellow metal of 99.5 per purity also traded flat at Rs 84,500 per 10 grams -- also its record high on Saturday. However, silver rallied for the fourth straight session, climbing Rs 700 to Rs 95,700 per kg on persistent offtake by industrial units and coin makers. The white metal had closed at Rs 95,000 per kg on Friday. In the last four sessions, silver has advanced Rs 2,700 or 2.9 per cent to Rs 95,700 per kg from Rs 93,000 per kg on January 29. In futures trade, gold contracts for February delivery fell

Gold strikes fresh all-time high of Rs 83,750 per 10 gm amid renewed buying

Snapping a two-day losing run, gold of 99.5 per cent purity also surged Rs 910 to hit a fresh peak of Rs 83,350 per 10 grams on Wednesday

Gold rises Rs 10 to Rs 80, 630; silver jumps Rs 100 to Rs 95,600 per kg

The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 73,910

Gold rises Rs 10 to Rs 80,080; silver jumps Rs 100 to Rs 93,600 per kg

The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 73,410

Gold surges by Rs 10, silver down Rs 100; yellow metal trading at Rs 79,210

The price of 22-carat gold also rose by Rs 10, with ten grams of the yellow metal selling at Rs 72,610

Gold prices up Rs 10 at Rs 79,210, silver rises Rs 100 to Rs 92,600 per kg

The price of 22-carat gold also went up by Rs 10, with ten grams of the yellow metal selling at Rs 72,610

Gold falls Rs 10 to Rs 77,550, silver down Rs 100 at Rs 90,400 per kg

The price of 22-carat gold also went down by Rs 10, with ten grams of the yellow metal selling at Rs 71,090

Indians buying lightweight, lower-carat jewellery as gold prices soar

Gold prices in the world's second biggest buyer of the precious metal have surged 22% so far this year, after rising 15% in 2023

India's gold imports poise for slowdown in Dec after record Nov purchase

Lower imports by India, the world's second-biggest consumer of the precious metal, could cap a rally in global prices that hit a record high in October

India's gold imports up 331% to record high of $14.86 billion in Nov

The country's gold imports in November reached a record high of USD 14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands, according to commerce ministry data. Gold imports stood at USD 3.44 billion in November 2023. Cumulatively, imports during April-November this fiscal year rose 49 per cent to USD 49 billion as against USD 32.93 billion in the same period last fiscal year. According to the ministry, gold, with about 25 per cent average annual return, is one of the best-performing assets in 2024 (till November) and high imports indicate strong investor confidence in the precious metal as a safe asset. The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, cut in customs duties. Prices of the yellow metal have increased 23 per cent so far this year to Rs 78,350 per 10 gm in the national capital. In the Budget, the government slashed the duty from 15 per cent to 6 per ...

RBI adds 27 tonnnes gold to country's reserve in October, says WGC

Gold buying by central banks surged to 60 tonnes in October, mainly led by the Reserve Bank of India (RBI) which added 27 tonnes of the precious metal to its reserves, the World Gold Council (WGC) said on Thursday. India added 27 tonnes of gold in October, bringing its total gold purchases to 77 tonnes from January to October, according WGC data based on reported monthly data from the International Monetary Fund (IMF). This buying by RBI represents a five-fold increase as compared to the same period of 2023, said WGC. According to the data, with this purchase the total gold reserve of India is now at 882 tonnes, of which 510 tonnes are held in India. WGC further stated that emerging market central banks continued to dominate the market with Turkey and Poland adding 72 tonnes and 69 tonnes from January-October 2024, to their gold reserves, respectively. These three central banks alone accounted for 60 per cent of total global net purchases reported this year, it added. Meanwhile,

Gold rises Rs 10, silver falls Rs 100; yellow metal trading at Rs 77,960

The price of 22-carat gold also rose Rs 10, with ten grams of the yellow metal selling at Rs 71,460