The World Gold Council initiates micro-finance scheme to promote investments by low-income groups.
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.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
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'.
Some antique jewellery is displayed in a couple of museums in the world.
WGC had earlier estimated around 200 tonnes of gold was brought into India through smuggling in calendar year 2013.
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.
'That combination of a rising economy, a growing middle class, and a deepening love of diamonds and jewellery is what we see really doubling the market for diamonds over the next five years.'
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.
The World Gold Council (WGC) said the recent fall in gold prices was driven by speculative traders in the futures markets.
Global central banks bought 157.5 tonnes of gold in the second quarter.
Cricket has been the driving force behind change in the sporting ecosystem in India but women's participation in other sports in the country still needs more support and platforms for exposure.
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.
Sagoo was the lone candidate left in fray after incumbent senior vice president Anju Bobby George opted out of the race for the position.
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.
Female athletes will soon have to undergo a one-time genetic test to compete in women's events, World Athletics president Sebastian Coe said on Tuesday, after proposals to tighten eligibility rules were discussed at the body's council.
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.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
India, China account for 54% of total gold demand in first four mnths of 2015.
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.
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).
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.
In the July-September period of this year, the domestic demand improved mainly due to Diwali demand and the upcoming marriage season.
Slump after 5 quarters amid high prices, rupee depreciation.
The most compelling reason for putting money in gold is its role as a long-term or strategic asset.
This year, WGC expects India's gold demand to stand at 865-965 tonnes. Last year, it was 864.2 tonnes.
India's total demand for gold rose by 94 per cent to 365-tonnes in H1 2010 as compared to 188.4-tonnes in H1 2009, the World Gold Council said in a statement here.
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