India’s gold consumption is expected to rebound in 2021 after falling to its lowest in 26 years last year as pent-up demand and higher economic growth are seen boosting sales, the World Gold Council (WGC) said on Thursday. Higher purchases by the world’s second-biggest bullion consumer could support gold prices, which hit a record high […]
India gold demand tapers off after festival spike
Gold discounts in India widened this week as physical demand cooled because of high prices after a busy festival week while activity in other Asian hubs was largely steady. India celebrated Diwali and Dhanteras last week, some of the busiest gold-buying days in the country, when demand peaks because gold is considered auspicious. Read more: […]
Gold import shrinks 24% to $23 billion in Apr-Feb FY17
India’s gold import witnessed a fall of about 24 per cent to $23.22 billion in April-February period of the last fiscal, which is expected to keep a lid on the current account deficit. Total import of the precious metal in the corresponding period of 2015-16 stood at $30.71 billion. According to industry experts, softening prices […]
Gold demand eases on higher prices; premiums mostly unchanged
Physical gold sales eased in Asia this week as steadily higher prices kept buyers on the sidelines and premiums remained mostly unchanged across the continent. In India, the world’s second-largest consumer of the metal, higher prices prompted retail buyers to postpone purchases for wedding season. “The volatility in prices is confusing buyers. Many buyers are […]