India Gold

Gold imports jump 40.79% to $2.68 bn in Jan on increase in demand

The country's gold imports in January rose by 40.79 per cent to USD 2.68 billion on account of increasing domestic demands, according to commerce ministry data. Gold imports stood at USD 1.9 billion in January 2024. Cumulatively, imports during April-January this fiscal year rose 32 per cent to USD 50 billion against USD 37.85 billion in the same period last fiscal year. The increase in imports also indicates strong investor confidence in the precious metal as a safe asset. The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, and cut in customs duties. Prices of the yellow metal have increased 11 per cent so far this year to Rs 88,200 per 10 gram in the national capital. India's gold imports, which have a bearing on the country's current account deficit (CAD), surged 30 per cent to USD 45.54 billion in 2023-24. Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (ov

US demand squeezes India's gold supply, leasing rates rise to record high

Higher leasing rates are driving up jewellery production costs in the world's second-largest gold consumer and could squeeze margins of jewellers such as Titan, Kalyan Jewellers

Centre slashes Nov gold imports by $5 bn in record commodity revision

The spike in gold imports widened the country's merchandise trade deficit to a record $37.84 billion in November, significantly exceeding economists' forecast of $23.9 billion

Gold price outlook: Retail sales, US CPI inflation holds key, says Sharekhan

Gold: Rises as the Fed Chair calls PPI data as 'mixed' on downward revisions to the prior data.

Bias turns positive; Gold may rally towards Rs 58,700, Silver Rs 70,000

The near term bias for MCX Gold April futures is likely to remain bullish as long as the commodity sustains above Rs 57,100.

India's Dec gold imports plunge 79%; fall by over a third in 2022: Report

The drop in imports could help in bringing down India's trade deficit and support the rupee

TMS Ep344: Foreign universities, foreign waste, gold, cloud computing

Is India ready to welcome foreign universities? Why is India the final destination for foreign waste? Will gold outshine equity and debt securities in 2023? What is cloud computing? All answers here

India's festival gold sales to shine less brightly this year, says WGC

Demand for gold jewelry, coins and bars typically peaks in the world's second-biggest consumer over October to December, driven by festivals including Diwali

First global gold exchange in India aims to create regional bullion hub

The India International Bullion Exchange is expected to attract dealers, refineries and foreign banks, Chief Executive Officer Ashok Gautam said

India's gold jewellery consumption likely to grow 11% in FY23: Report

India's gold jewellery demand is likely to grow steadily at 11 per cent during the current financial year due to strong retail performance last year, according to a report. Within the jewellery retail industry, revenues of organised retailers are likely to grow at a higher pace of 14 per cent, backed by their aggressive store expansion plans and a gradual shift from the unorganised segment towards the organised one, Icra Ratings said in a report. Demand during the current Akshaya Tritiya season is expected to be strong, leading to a healthy demand growth of around 45 per cent Y-o-Y in the first quarter of FY23. Growth for FY23 is expected at 11 per cent for the industry, despite a high base witnessed in FY22, driven by the anticipated steady wedding and festive purchases during the current fiscal, given Indian consumer's strong cultural affinity towards gold," Icra Senior Vice President and Group Head Jayanta Roy said. Interestingly, at the forecasted level, gold jewellery demand in

India gold discounts widen, Singapore demand up on festival buying

Physical gold discounts rose in India this week as buyers remained on the sidelines, while demand in Singapore and other Asian hubs ticked up as buyers took advantage of lower prices ahead of holidays

Indians sell record amount of old gold as prices hit 7-year-high

Consumers sold 37.9 tonnes of the yellow metal in June quarter, says World Gold Council

GST woes: India's gold imports to fall in H2; smuggling seen rising, says WGC

There have been fears the tax increase could stoke under-the-counter buying in India