Representative Image After the sharp reduction in import duty announced in the Union Budget, the revenues of organised gold jewellery retailers will increase 22-25 per cent this fiscal (year-on-year) – a solid 500-600 basis points (bps) more than the 17-19 per cent expected earlier, a report showed on Monday. The incremental growth will be driven…
The World Gold Council (WGC) has raised its projection for India‘s gold consumption in 2024 to 850 tonnes from 750 tonnes. A good monsoon coupled with a duty cut on gold will drive the demand, said John Reade, market strategist-Europe and Asia, World Gold Council. “Jewellery will drive this higher demand of gold in India…
Representative photo India’s gold demand in the June quarter fell 5% from a year ago, but consumption in the second half of 2024 is set to improve due to a correction in local price following a steep reduction in import taxes, the World Gold Council (WGC) said on Tuesday. Higher purchases in the world’s second-biggest…
