Typically, July - September is a seasonally weak period for gold demand due to monsoons and inauspicious periods like Pitru-Paksha when buyers usually prefer to postpone gold purchases
The total demand stood at 894.4 tonnes during the third quarter of 2020, WGC's Q3 Gold Demand Trends 2021 report said on Thursday.
Demand for the precious metal usually spikes towards the end of the year in India, as buying gold for weddings and major festivals such as Diwali and Dussehra is considered auspicious.
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India demand for gold in Q2 FY22 jumped 47% YoY to 139.1 tonnes, compared with 94.6 tonnes in the year-ago period. How will the year 2022 prove for gold? Is it a good time to buy? Let's find out
Demand for gold in India jumped 19.2 per cent in the April - June 2021 quarter to 76.1 tonnes, suggests the latest report from World Gold Council (WGC)
Around 21 per cent of the central banks around the globe intend to increase their gold reserves over the next 12 months: survey
The next phase of gold demand - in the second half of 2021 - will not be driven by fear, but by economic growth, WGC said
Demand will be helped by lower import duty among other announcements made in the Union Budget for FY22, said a World Gold Council (WGC) report
According to the World Gold Council (WGC), gold demand in India thus far in CY20 stands at 252 tonnes, as compared to 496 tonnes in the same period last year.
The strict lockdown imposed in late March eclipsed the gold buying festival of Akshaya Tritiya
Global holdings of physically-backed gold ETFs and similar products jumped by 298 tonnes during the March quarter - the highest quarterly inflows for four years
Gold is the third-most popular investment choice, with 46% of all global retail investors choosing gold products - next only to saving accounts (78%) and life insurance (54%)
Further the report noted that central banks added 156.2 tonne to reserves in Q3, falling 38 per cent in comparison to the record Q3 last year.
The market potential for bullion banking in India, according to the council, has an estimated value between $300 million and 500 million
Gold demand in India is likely to remain below its 10-year average for a third year in 2018
The yellow metal has outperformed the S&P 500 so far this century, returning 86% more than the market, says a World Gold Council report
Given the implementation of GST, WGC expects the demand for gold jewellery to remain muted in the se