Gold consumption surged to 800 tons last year as the easing of virus-related restrictions unleashed demand. The jump in demand and rising imports forced the government to raise the import tax on gold
As the economy recovers from the coronavirus damage, India's gold demand for the June quarter increases by 43% compared to the corresponding quarter last year, says a report by World Gold Council.
At the global level, the demand for gold (excluding OTC) was 8 per cent lower y-o-y at 948 tonnes. Combined with Q1-2022, the total demand in the first half of 2022 came in at 2,189t, up 12 per cent
The price of 10 grams of 24 carat gold on Tuesday is trading at Rs. 52,470 and 10 grams of 22 carat gold is selling at Rs. 48,100. Silver is trading at Rs. 70,000 per kg
Easing of lockdown restrictions, festive period and the ensuing wedding season, however, revived demand hope and drew in jewellery demand worth 137.3 tonnes in the December 2020 quarter
Gold is the third-most popular investment choice, with 46% of all global retail investors choosing gold products - next only to saving accounts (78%) and life insurance (54%)
the fact that the estimates of the size of the black economy in India varied from 7 per cent to 120 per cent of GDP is a matter of surprise - and some concern
