Representative Image The demand for gold is expected to primarily revolve around the festive period, which kicks off in August-September, said Kavita Chacko, research head of India of the World Gold Council (WGC). Jewellery demand will likely remain subdued following the recent festive period, with purchases largely confined to weddings Meanwhile, bar and coin demand…
Gold price outlook: The current circumstances appear to be ideal for gold, and overlooking its appeal could be a costly mistake for investors seeking to safeguard their wealth.Central banks in emerging markets are accumulating gold reserves as tensions persist in West Asia, enhancing the metal’s status as a reliable store of value. Additionally, the near…
India‘s gold imports in 2024 could fall by nearly a fifth from the previous year, as record high prices spur retail consumers to exchange old jewellery for new items, the head of an industry body told Reuters. Lower imports by India, the world’s second biggest consumer of the precious metal, could cap a rally that…
This Akshaya Tritiya, expectations of jewellers are high due to a marginal dip in gold prices compared to last month. In April, sales volume decreased by around 20 per cent, although there was an increase in gold consumption in value terms due to escalating gold prices. The jewellery retailers are expecting Akshaya Tritiya to boost…
BEIJING: China‘s gold consumption in the first quarter of 2024 climbed by 5.94% from a year earlier on soaring safe-haven demand, the country’s Gold Association said on Friday. Bullion consumption in the world’s largest consumer totalled 308.905 metric tons in the first three months of the year. Purchase of gold bars and coins jumped 26.77%…
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as…
Representative image Mumbai: Gold prices will skyrocket further in June, when the US Fed brings about a rate cut, Gold Jewellery Council (GJC) has forecast. While the yellow metal reached an all-time high on Monday and fluctuated on Tuesday to close a few points lower, GJC, which opened its jewellery show on Tuesday, said customers…
Gold shot up to a lifetime high of `. 69,487 per 10 gm on Monday, marking a surge of 18.2% in the past six months, deepening the gloom among jewellers at Mumbai’s Zaveri Bazaar, who said the rise in prices is keeping customers away. Demand crashed 70% in the March quarter, according to them. However,…
Representative image India‘s gold imports are set to plunge by more than 90% in March from the previous month to hit their lowest level since the COVID pandemic as banks cut imports after record-high prices hit demand, a government official and two bank dealers told Reuters. Lower imports by India, the world’s second biggest consumer…
Gold prices surged to a fresh record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the Federal Reserve could begin cutting interest rates soon. Spot gold rose 0.7% to $2,173.49 per ounce by 10:42 a.m. ET (1542 GMT), while U.S. gold futures added 0.7% to $2,180.50. Bullion…
