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.
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, 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.
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.
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.
According to data compiled by London-based Gold Field Minerals Services (GFMS) for the World Gold Council (WGC), the combination of a robust economy and buoyant stock market helped fuel purchases of the metal during the first eight to nine months of the year, despite gold breaching the psychologically significant level of Rs 9,000 per 10 grams in September.
It was an invite-only event that blended delectable cuisine, curated cocktails and a stunning showcase of craftsmanship.
WGC will conduct nearly 30 workshops across the Indian cities as a prelude to Au DITIONS, a competition for gold jewellery designers. Au DITION is aimed at identifying three trend-setting designers, whose works will be showcased worldwide.
Some of the leading, most cutting-edge, designs in India take inspiration from Indian culture and history.
Gold demand in the country was 864 tonnes during 2012, according to data given in WGC 'Gold Demand Trends 2013' report.
Sky-high gold jwellery prices will haunt buyers in 2010 also though India is better placed than its global peers, where people are slowly turning back to purchases, according to World Gold Council.
Gold prices in the national capital touched a peak of Rs 16,250 per 10 grams before Diwali, on October 14, from Rs 15,370 in the beginning of September. The prices are ruling at Rs 16,175 per 10 grams on Friday.
Sales of gold coins and bars should be curbed after reaching around 300 tonnes
According to the Q2 09 Gold Demand Trends report released on Wednesday by WGC, 'investment demand for gold remained very strong in the second quarter of 2009, rising 46 per cent on year-earlier levels as investors continued a flight to quality'.
Investors globally have found solace in gold in the last one year when major world economies slipped into recession. Sample this: According to World Gold Council data, investment by exchange traded funds in gold was 150 tonnes in the third quarter
India's first quarter gold demand decreased by 29 per cent in volume at 207.6 tonne, year-on-year, while it dipped by 3 per cent at Rs 56,650 crore (Rs 566.5 billion) in terms of value.
India owns over 18,000 tonnes of above ground gold stocks worth approximately $800 billion and representing at least 11 per cent of global stock, according to estimates of World Gold Council.
Indian buyers were on a gold buying spree during the July-September 2004 period despite the rising prices of the precious metal, said a World Gold Council report on Tuesday.
In Q1 2010, India was the strongest performing market as total consumer demand surged by 698 per cent to 193.5 tonnes.
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.
Gold only beats inflation. It fares poorly when compared to real estate or shares when compared on the basis of real inflation adjusted returns. Any serious investor, however, is advised to have a certain percentage of investment in gold to hedge inflation.
Investors, speculators, hedgers and consumers who sold their gold stocks to partly set off losses in the financial markets will start replenishing within six to eight months, says Ajay Mitra, managing director - Indian sub-continent, World Gold Council.
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
After yellow and white, pink gold is set to hit Indian jewellery retail stores by the end of this year.
With their increasing economic independence and rising personal wealth, more and more women in India are preferring to buy gold, World Gold Council has said.
Gold prices on Friday rose by Rs 210 to hit another five-week high of Rs 28,300 per 10 grams in the national capital on sustained buying by stockists amid a firming global trend.
Rising bullion prices was no deterrent to the Indian gold jewellery segment in India as sales soared in the third quarter of the current fiscal (Q3).
