World Gold Council estimates that central banks will have purchased 500 tonnes of gold in 2012.
Gold prices have been on an uptrend in the last few months, rising nearly 28 per cent to $2387 per ounce now. This rise in gold price, according to Christopher Wood, global head of equity strategy at Jefferies, is attributed to the demand from China amid lack of investor euphoria as regards the yellow metal. "Recent developments show a distinct lack of investor euphoria as regards gold, the question remains what is driving the current rally.
China and India remain the cultural heartlands of gold, generating 55 per cent of global jewellery demand and 49 per cent of global demand, says the World Gold Council.
The World Gold Council initiates micro-finance scheme to promote investments by low-income groups.
The Gems and Jewellery Export Promotion Council (GJEPC) has urged the Centre to provide immediate relief measures as the tariffs imposed by the United States have started hitting the industry. US tariffs of 50 per cent on Indian goods came into effect on August 27.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
Some antique jewellery is displayed in a couple of museums in the world.
The first-ever Khelo India Water Sports Festival is all set to reveal the iconic Dal Lake in a new avatar.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
'I have no idea about such a medal. Never got one,' says Surya Shekhar Ganguly, the national chess champion between 2003 and 2008.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
WGC had earlier estimated around 200 tonnes of gold was brought into India through smuggling in calendar year 2013.
Only 21 tonnes of gold have been mobilised in the last eight years under the gold monetisation scheme (GMS) which was announced by the Government of India in November 2015. This could be considered as a failure as the scheme has undergone several changes with a revamped GMS announced in April 2021 to improve collections. This figure was released by the World Gold Council (WGC) on Wednesday in its report titled 'Gold Investment Market and Financialisation, in India gold market series'.
The World Gold Council (WGC) said the recent fall in gold prices was driven by speculative traders in the futures markets.
Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average, it had substantially recovered from the lows seen in the second quarter (April-June 2020) of last year, according to the report.
Retail investment demand for gold bars and coins as well as central bank purchases pushed the global gold demand by 28 per cent to 1,181.5 tonnes in the September quarter, according to the World Gold Council report. The total global demand stood at 921.9 tonnes during the July-September quarter of 2021, the World Gold Council's 'Gold Demand Trends Q3 2022' showed on Tuesday. Investment was down 47 per cent year-on-year as gold backed Exchange Traded Fund (ETF) investors responded to a challenging combination of higher interest rates and a strong US dollar with significant outflows of 227 tonnes.
It was an invite-only event that blended delectable cuisine, curated cocktails and a stunning showcase of craftsmanship.
Global central banks bought 157.5 tonnes of gold in the second quarter.
This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
A report from the World Gold Council says that rising demand for luxury goods from India and China may drive the gold prices to a new peak in the next year.
Gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, but that heavy disinvestment is tailing off this year, pointing to a recovery, the World Gold Council said.
Gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, but that heavy disinvestment is tailing off this year, pointing to a recovery, the World Gold Council said.
The demand for the precious metal stood at 202.1 tonnes in the same quarter last year.
The global official gold holdings totaled 31,694.8 tonnes as of April 2013.
Global appetite for gold fell 21 per cent in the third quarter as outflows from physical bullion funds and the drop in buying from India offset firmer jewellery, coin and bar sales, a quarterly report from the WGC showed on Thursday.
The total sales volumes of gold for 2012 stood at Rs 2.47 lakh crore (Rs 2.47 trillion) and total quantity of gold sold in the country was 864 tonnes, Vipin Sharma, Director (Jewellery) WGC told reporters in Kochi.
In the first quarter of 2013, gold imports declined 5.7 per cent, as traders relied mostly in stocks to meet rising demand.
India (NRIs included) goes crazy about gold jewellery.
China was the only gold jewellery market to grow 6 per cent in 2009, according to the figures compiled by the organisation formed and funded by worlds leading gold mining companies.
Stung by the steep fall in demand for the yellow metal in the world's largest consumer nation, the World Gold Council is now falling back on the familiar marketing mantra: If customers aren't coming, go to their doorsteps. The reason for the marketing overdrive by the Indian arm of the WGC is simple: India, which used to import around 60 tonnes of gold a month till last year, has seen zero imports in the past two months because of the prevailing high prices.
According to news article posted on the World Gold Council web site, gold nanoparticles ten thousand times smaller than a human hair could be used to break down chemicals in drinking water and reduce pollution. It said the particles, which mix gold and palladium, are the creation of engineer Michael Wong from Rice University in Houston, Texas.
India, China account for 54% of total gold demand in first four mnths of 2015.
The council is looking at the youth as a segment in the global market and has started the LoveGold on the social media (Facebook and Twitter).
The high import duty on gold, local taxes and restrictions on imports are leading to a rise in smuggling of the commodity into the country.
India is crazy about gold jewellery. With the World Gold Council aggressively marketing social and religious functions as gold buying events, the demand has shot up in the recent years to record levels.
Up 37% in December quarter, nearly 70 per cent over the year, a fourth of entire global intake.
Slump after 5 quarters amid high prices, rupee depreciation.
In the July-September period of this year, the domestic demand improved mainly due to Diwali demand and the upcoming marriage season.
The most compelling reason for putting money in gold is its role as a long-term or strategic asset.
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