Spot gold tested a new lifetime high last week due to a combination of factors that have converged to propel the demand for the yellow metal. Multiple catalysts like US rate cut speculation, China’s economic stimulus, and renewed geopolitical tensions attributed to the rise in prices. Prices on the London spot market surged near to…
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…
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…
The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year. The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period…
Representative Image Gold rallied to a record high of Rs 71,080 per 10 gram on Monday, crimping demand for jewellery a day ahead of a Hindu festival considered auspicious for gold purchases. Price of the yellow metal rose 1.72% or Rs 1,198 per 10 gm from last Friday. Rising prices of precious metals come ahead…
Sachin Jain The World Gold Council Tuesday named Sachin Jain its new CEO for India. Jain, who will take up the new role next month, brings with him a deep understanding of the Indian consumer and jewellery market. He joins from De Beers where he has held several senior roles over the past 13 years….
Representative image The Directorate General of Foreign Trade (DGFT) has urged the Gem & Jewellery Export Promotion Council to popularise jewellery exports through e-commerce and to position India as a top supplier, design creator and value-adding hub for gold jewellery. Santosh Kumar Sarangi, Director General of DGFT said, “India stands as one of the largest…
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…
Kolkata | New Delhi: Latha Radhakrishnan used to travel to Coimbatore city to buy gold jewellery from Tanishq‘s store there, but she now has the option to buy it closer home, as the Titan co-owned chain has opened an outlet at Pollachi. Tanishq’s store at Pollachi, about 40 km south of Coimbatore city and opened…
