World Gold Council

Increased competition, lower spreads, moderate growth are among hurdles to overcome

Buying dipped during the coronavirus pandemic but accelerated in the second half of 2022, with central banks purchasing 862 tonnes between Jul and Dec

India's gold demand has reached pre-pandemic levels and has witnessed an annual growth of 14 per cent during the July-September quarter at 191.7 tonnes mainly driven by strong consumer interest, according to a World Gold Council (WGC) report. According to the 'Gold Demand Trends Q3 2022' report by WGC, the total demand stood at 168 tonnes during the July-September quarter of 2021. In value terms, gold demand grew by 19 per cent to Rs 85,010 crores during the third quarter of 2022, compared to Rs 71,630 crores in the corresponding period of 2021. India's total gold demand in the third quarter of 2022 at 191.7 tonnes is a 14 per cent increase over last year, which reflects better-than-expected performance and strong consumer interest, helping year-to-date demand return to pre-COVID levels, Somasundaram PR, Regional CEO, India, World Gold Council told PTI. Meanwhile, total jewellery demand in India during the third quarter increased by 17 per cent at 146.2 tonnes, compared to 125.1 ..

Demand for gold jewelry, coins and bars typically peaks in the world's second-biggest consumer over October to December, driven by festivals including Diwali

Gold's outperformance over equity has been even better in the international market, thanks largely to a big sell-off in equities in advanced economies such as the US and Western Europe

In a Q&A, the council's Global Chief Market-Strategist said the price of gold will face headwinds in the near future

The India International Bullion Exchange is expected to attract dealers, refineries and foreign banks, Chief Executive Officer Ashok Gautam said

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

India's demand for gold will be between 800-850 tonne in 2022, said a top official of World Gold Council-India.

10 gram of 22-carat gold is trading at Rs 46,450 today after a fall of Rs 130

A sharp fall in purchases by investors pulled global gold demand down 8% in the second quarter compared to the same period in 2021, the World Gold Council said on Thursday.

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Over the past five years, 11 per cent of India's gold supply came from 'old gold'; driven by movements in the gold price

However, some of them feel that the recent surge in gold prices could become a hindrance

The India trend is contrary to global demand for gold, which went up by 34 per cent YoY to 1,234 tonnes, the highest since Q42018.

In a Q&A, David Tait says the council will launch a self regulatory organisation for the Indian gold industry

Weddings were the primary reason for buying gold, with 43 per cent of the Indian households surveyed buying the yellow metal for this purpose

India's gold mine production stood at a mere 1.6 tonnes in 2020 but could rise to 20 tonnes per year in the long-term, World Gold Council said on Thursday.

The South Asian country is the world's second-biggest consumer of the metal and fulfils most of its demand through imports.

Indian jewellery buyers nearly doubled their purchases last year to 611 metric tons, according to the World Gold Council