For the first time in the history of the Indian jewellery market, silver sales surpassed gold during this Dhanteras season. High gold prices have dampened consumer demand, leading shoppers to turn to silver instead. “Silver sales have shot up 30-35% this year despite prices being 40% higher than last Dhanteras,” Surendra Mehta, national secretary at…
Representative image India’s gold demand in 2024 is likely to fall to its lowest in four years as a rally in prices to a record high is seen denting purchases during the peak festival season in the December quarter, the World Gold Council (WGC) said on Wednesday. Gold demand in the world’s second-biggest consumer of…
Representative image Gold continues to shine despite the record-high prices. The yellow metal prices saw an increase of 24 per cent this year but buying interest is still high amid volatile markets and geopolitical challenges, according to a report by Religare. Buyers however are cautious given the economic backdrop. Gold has long held a special…
Representational image Despite gold prices touching record highs of Rs 79,000 per 10 gm, gold demand uptick is expected to continue this Diwali and till the end of the year due to the wedding season, according to the World Gold CouncilSachin Jain, Regional CEO, India, World Gold Council said, “Buying gold is considered auspicious during…
Representative image New Delhi: Gold and Silver prices are on an upward trajectory backed by firm demand, and the steam seems to remain till the end of this festival season. In the current financial year, gold and silver prices have appreciated by nearly 10 and 24 per cent, respectively. “From Indian perspective, with the customs…
Indian gold demand looks set for a strong few months as a cut to the import tax and what’s likely to be a buoyant festival and wedding season drive purchases in the world’s second-biggest consumer of the precious metal. Imports more than tripled to 140 tons in August from the previous month, according to the…
Representative Image Monthly instalment schemes floated by jewellers are keeping the gold demand alive for the retailers, with the amount received by them from consumers continuing to grow in corpus when overall gold demand remains weak. Market leader Tata-owned Tanishq has disclosed that monthly deposit at its stores has gone up by 10% year-on-year (yoy)…
Representative image New Delhi: Gold prices are witnessing a strong resurgence in both international and domestic markets, with increased jewellery buying and investment activities expected to persist, according to the latest report from the World Gold Council. Rural demand, in particular, is showing signs of recovery. With an improved monsoon season and higher crop sowing…
Representative image On Friday, the World Gold Council (WGC) said that the rural purchase of gold this festive season will provide fresh momentum to gold demand in the country. WGC has earlier revised the demand for gold this year to 850 tonnes from 750 tonnes. “Rural consumption demand has been showing signs of improvement and…
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…
