Page 8 - India Gold Demand

India's gold demand for 2022 to be over 800 tonne, says World Gold Council

India's demand for gold will be between 800-850 tonne in 2022, said a top official of World Gold Council-India.

India's gold jewellery consumption likely to grow 11% in FY23: Report

India's gold jewellery demand is likely to grow steadily at 11 per cent during the current financial year due to strong retail performance last year, according to a report. Within the jewellery retail industry, revenues of organised retailers are likely to grow at a higher pace of 14 per cent, backed by their aggressive store expansion plans and a gradual shift from the unorganised segment towards the organised one, Icra Ratings said in a report. Demand during the current Akshaya Tritiya season is expected to be strong, leading to a healthy demand growth of around 45 per cent Y-o-Y in the first quarter of FY23. Growth for FY23 is expected at 11 per cent for the industry, despite a high base witnessed in FY22, driven by the anticipated steady wedding and festive purchases during the current fiscal, given Indian consumer's strong cultural affinity towards gold," Icra Senior Vice President and Group Head Jayanta Roy said. Interestingly, at the forecasted level, gold jewellery demand in

Middle income group purchases more gold in India, says report

The Gold and Gold Markets 2022 report by India Gold Policy Centre (IGPC) also said that people in the higher income group are interested in having the yellow metal in digital or paper format

Gold consumption highest among Indian middle-income group

Weddings were the primary reason for buying gold, with 43 per cent of the Indian households surveyed buying the yellow metal for this purpose

India's gold output could rise multifold if hurdles removed: WGC report

The South Asian country is the world's second-biggest consumer of the metal and fulfils most of its demand through imports.

India's gold imports jump over two-fold to $38 bn in Apr-Dec 2021

India's gold imports, which has a bearing on the country's current account deficit (CAD), more than doubled to $38 billion during April-December this fiscal

Gold demand drops as coronavirus shrinks big, fat Indian weddings

Busy wedding season from the second half of January has been affected by restrictions on gatherings.

TMS Ep80: Gold rush, wedding industry, markets, privatisation

What is behind India's renewed love for gold? Will Omicron woes hit the wedding industry? Markets prepared for mini-lockdowns? What are privatisation and disinvestment? All answers here

Gold price today at Rs 48,340 per 10 grams; silver at Rs 66,500 a kg

The rate of gold jewellery varies across the nation due to excise duty, state taxes, and making charges.

Gold price today Rs 48,250 for 10 gram; silver at Rs 64,700 per kg

The price of gold differs across the nation owing to excise duty, state taxes, and making charges.

Gold demand in India back to pre-Covid levels in September quarter: WGC

Typically, July - September is a seasonally weak period for gold demand due to monsoons and inauspicious periods like Pitru-Paksha when buyers usually prefer to postpone gold purchases

India's gold demand could jump in Q4 on festivals, pent-up purchases: WGC

Demand for the precious metal usually spikes towards the end of the year in India, as buying gold for weddings and major festivals such as Diwali and Dussehra is considered auspicious.

WGC Regional CEO Somasundaram PR on why 2022 will be a good year for gold

India demand for gold in Q2 FY22 jumped 47% YoY to 139.1 tonnes, compared with 94.6 tonnes in the year-ago period. How will the year 2022 prove for gold? Is it a good time to buy? Let's find out

India's gold demand may slow down due to declining household savings

Gold demand in India is likely to face challenges from a declining household savings rate and lower agricultural wages

Gold demand likely to be robust in 2022: World Gold Council

The demand for gold is likely to remain subdued this year following Covid-related disruptions that continues in India, the World Gold Council (WGC) said in a report

Gold price today at Rs 46,470 per 10 gm, silver selling at Rs 59,500 a kg

The price of gold jewellery varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges

Attractive stock markets may keep investors away from gold: Analysts

Demand for gold in India jumped 19.2 per cent in the April - June 2021 quarter to 76.1 tonnes, suggests the latest report from World Gold Council (WGC)

India's gold demand up 37% YoY in March qtr; global demand dips 23%: WGC

The next phase of gold demand - in the second half of 2021 - will not be driven by fear, but by economic growth, WGC said

India's gold demand could falter in June quarter on Covid-19 lockdowns: WGC

Appetite for gold soared in the first quarter on pent-up demand after weddings were delayed in 2020 due to the Covid-19 pandemic

India's March gold imports surge 471% to a record 160 tonnes: Report

Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 17% from an all-time high of $2,072 in August 2020