Indian Gold Demand

The price of 22-carat gold also witnessed a rise of Rs 10, with ten grams of the yellow metal selling at Rs 72,960

India's gold demand witnessed an 18 per cent on-year growth during the July-September quarter of this year to 248.3 tonnes, as the reduction in gold import duty resulted in a revival in jewellery demand, the World Gold Council (WGC) said in a report on Wednesday. The overall gold demand during the corresponding quarter of last year stood at 210.2 tonnes, according to the WGC's Q3 2024 Gold Demand Trends report. However, with gold prices ruling at all-time highs, there might be an increased trend for investors to wait for price corrections. The full-year gold demand is likely to be in the range of 700-750 tonnes, slightly less than last year, as Dhanteras and wedding season is likely to boost overall gold demand. In 2023, India's gold demand stood at 761 tonnes. On Tuesday, gold price rose by Rs 300 to Rs 81,400 per 10 grams, near its record high level, in the national capital due to heavy demand for Dhanteras by jewellers and retailers. In terms of value, gold demand went up by 53

Spot gold surged to a fresh record high of $2465 on July 16 as traders continued to pile into the metal on Fed rate cut bets.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,340, Rs 66,190, and Rs 66,960, respectively

The price of 22-carat gold dipped by Rs 10, with the yellow metal selling at Rs 65,690

The price of 22-carat gold also went up Rs 10, with the yellow metal selling at Rs 66,660

The price of 22-carat gold also went down by Rs 10, with the yellow metal selling at Rs 68,290

India requires a mandate for a clear and continuous leadership that can take decisions to make it a developed nation by 2047, former top Indian diplomat Harsh Vardhan Shringla said Wednesday. Shringla said even in the US he has got an impression that the administration would like to see a clear mandate in India that would make it a strong economic power. What we need is a mandate for a clear and continuous leadership that can take the decision that will take Bharat to a Vikshit Bharat stage by 2047, Shringla told PTI. The former foreign secretary and the Indian Ambassador to the US is currently on a private visit. The youth, which is the majority of the country, expect that and they will provide a mandate to the leadership that will bring them the best opportunities and take us to a situation we have never even dreamt of being a developed country in every sense of the world whether it is women empowerment, economic, socioeconomic or environmental developments, he said. I think we

The price of 22-carat gold was up by Rs 10, with the yellow metal selling at Rs 67,860

The price of 22-carat gold was up by Rs 10, with the yellow metal selling at Rs 67,160

In case of a pullback, the immediate resistances for Gold and Silver futures are placed at Rs 56,050 and Rs 64,580, respectively.

The reserves had increased by 100 tonnes in the last two years; currently stand at 785.35 tonnes

Two-thirds of India's gold demand comes from rural areas, where jewellery is a traditional store of wealth

Demand for gold is falling, partly as a result of government measures, higher local prices and the metal's fading appeal among more youthful customers

Weak rupee, less rural demand and low interest from millennials are among the factors for low imports

Income growth also spurs savings, helping increase demand for gold bars and coins

India's gold demand declined by a staggering 24 per cent in the July - September quarter due to implementation of the goods and services tax (GST) and bringing jewellery industry under Prevention of Money Laundering Act (PMLA) which required KYC details from buyers even for retail transaction that deterred buyers. Data compiled by the apex mining industry body the World Gold Council (WGC) showed India's overall gold demand at 145.9 tonnes for the quarter ended September 2017 compared to 192.8 tonnes in the corresponding quarter last year. The decline in demand was attributed to the uncertainty around the GST which was initially at 18 per cent on making charges and the job work availed from others.Later, however, the GST council clarified the levy of 5 per cent on job work which brought a big relief to the entire jewellery sector. Also, the government scrapped PMLA notification for jewellery sector before Diwali which boosted jewellery sales this festive season. However before this, ...