Page 6 - World Gold Council
Holdings of gold-backed ETFs hit a new all-time high of 2,855.3 tonne in Q3
Further the report noted that central banks added 156.2 tonne to reserves in Q3, falling 38 per cent in comparison to the record Q3 last year.
 "Holdings of gold-backed ETFs hit a new all-time high of 2,855.3 tonne in Q3")
India should launch bullion banking to boost industry, suggests WGC
The market potential for bullion banking in India, according to the council, has an estimated value between $300 million and 500 million
 "India should launch bullion banking to boost industry, suggests WGC")
Consumers defer old gold sales on hopes of further rise in prices
Safe-haven buying of the metal has seen prices hitting a seven-year high in the international market and a life-time high in India
 "Consumers defer old gold sales on hopes of further rise in prices")
World Gold Council and MMTC Pamp to set up bullion assaying institute
Formed as a non-profit organization with 50:50 joint venture between WGC and MMTC Pamp, the institute would conduct education at India Institute of Gems and Jewellery
Gold buying: Annual demand not expected to return to 850 tonnes till 2020
World Gold Council (WGC), the industry's market development body, expects India's annual demand to not cross 850 tonnes for another three years.For this calendar year, it estimates 650-750 tonnes. The past year had seen a 21 per cent fall, to 676 tonnes, lowest in seven years."India's demand has fallen sharply in the past but then recovered. Previous attempts by the authorities to clamp on gold (holdings) have failed. Gold is too intimately ingrained in Indian society. On balance, while demand is likely to improve, our view for 2017 is cautious," says WGC on its projection for the year.Over time, we anticipate economic growth and greater transparency within India's gold market will push demand higher. By 2020, we see Indian consumers buying between 850 and 950 tonnes," said Alistair Hewitt, the Council's director, market intelligence, while issuing the latest report on Wednesday.The industry has more to contend with in 2017. The ban on cash transactions over Rs 300,000 (for buying ...
 "Gold buying: Annual demand not expected to return to 850 tonnes till 2020")
India's 2016 gold demand likely to fall to 7-year low thanks to smuggling
This is due to higher prices and increased smuggling
 "India's 2016 gold demand likely to fall to 7-year low thanks to smuggling")