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…
According to the World Gold Council (WGC), many consumers have shifted from jewellery to gold bars and coins as the prices of the yellow metal have surged, making it a preferred asset class among investors. Seasonal factors and high prices have dampened the demand for gold jewellery. At the same time, anecdotal reports indicate persistent…
World Gold Council (WGC) in its mid-year outlook 2024 has said that the catalyst for gold could come from falling rates in developed markets, that attract Western investment flows, as well as continued support from global investors looking to hedge bubbling risks amid a complacent equity market and persistent geopolitical tensions. Gold has performed remarkably…
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…
representative image India’s gold consumption in 2023 dropped by 3% from the previous year to 747.5 tonnes, according to World Gold Council (WGC) data, as price increase dampened jewellery sales. Demand for gold jewellery in 2023 dropped by 6% to 562.3 tonnes compared with 2022, WGC data released on Wednesday showed. The year, however, saw…
Somasundram PR, regional CEO India, World Gold Council MUMBAI: India will continue to see a rise in the consumption of gold backed by higher prosperity within the middle class and a rising awareness about its importance in portfolios, says Somasundaram PR, the regional CEO for India at the World Gold Council. “India will have to…
NEW DELHI: Gold demand in India, the world’s second-largest consumer of the yellow metal, rose 10 per cent to 210.2 tonnes during the third quarter of this calendar year, aided by softening of gold prices and festive demand, according to the World Gold Council (WGC). Speaking to PTI, WGC India Regional CEO Somasundaram PR said…
