Page 8 - Gold Demand
Gold demand shines, up 30% in January-June: WGC
India filled the gap seen in global jewellery demand for gold in June quarter. India's demand for gold in the period increased 36 tons or 8 per cent to 480.8 tons. However India's demand went up 36.9 tons or 41 per cent to 126.7 per cent. Had there been no increase in India's demand, it would have been among the worst quarters. According to the data compiled by the World Gold Council (WGC), released in their Gold demand trend for June quarter 2017, India's gold demand jump by a staggering 30 per cent in the first half of the current calendar year on robust buying from consumers towards the end of the April - June quarter amid fear of the goods and services tax (GST) implementation.India's gold demand during the January - June period jumped to 298.4 tonnes compared to 229.4 tonnes in the corresponding quarter previous year. Investment demand in first half was 73 tons taking total demand to 371 tons. WGC is optimistic about future as well. "Macro-economic factors are positive. We have .
 "Gold demand shines, up 30% in January-June: WGC")
GST uncertainty clouds gold demand and import
Slide in gold import bill continues in FY 17 also but looking at the trend seen in March quarter it seems that slide will be arrested as demand continues to be good but projections of El Nino spoiling rural demand story and uncertainties over how Goods and Service Tax will be implemented will decide the trend for the gold. New gold policy in pipeline including talks of Adhar based KYC being extended for jewellery buying is another factor that could decide the trend for future gold demand. Import bill till February this financial year was $23.3 bn and 558 tons gold was imported. However good import trend has continued in March also and import is estimated around 80-85 tons which means estimated import bill for FY 16-17 around $26.8 bn (import estimate 640 tons for whole FY17). However the demand trend is expected to continue ahead of Akshaya Tritiya, an auspicious occasion when gold sales on a single day is quite high and falling on 28 April. Sudheesh Nambiath, Lead Analyst - Precious .
 "GST uncertainty clouds gold demand and import")
Gold demand eases on higher prices; premiums mostly unchanged
Higher prices prompted retail buyers to postpone purchases for wedding season
 "Gold demand eases on higher prices; premiums mostly unchanged")
Price correction boosts gold demand; Indian discounts fall to 3-month low
Dealers in India were offering discounts of up to $25 an ounce over official domestic prices
 "Price correction boosts gold demand; Indian discounts fall to 3-month low")
