According to World Gold Council’s (WGC’s) latest Gold Demand Trends report, India’s Q1 demand for gold grew 37% to 140 tonnes compared to Q1 2020 (102 tonnes) buoyed by factors such as lower gold prices
The report, titled 'Gold Outlook 2021- Economic recovery and low interest rates set the tone', also said although global economic growth is likely to remain anaemic relative to its full potential for some time, gold's more stable price performance since mid-August may foster buying opportunities for consumers
Households and small businesses in India have preferred to pledge gold as collateral to meet financing needs rather than selling it outright during the Covid pandemic, the World Gold Council (WGC) said in a market update titled ‘Gold loans help India weather the Covid-19 storm’
Many industry stalwarts are hopeful that by October this year, the demand situation will improve, WGC however, based on its research claims otherwise
WGC examines how the combination of high risk, low opportunity cost and positive price momentum looks set to support gold investment
Online gold market in India is in its nascent stage, accounting for approximately 1-2 per cent of overall gold sales by value
Gold-backed exchange-traded products were the prevailing asset to own, driving global demand for the yellow metal in the first quarter, as the world economy was crushed by the COVID-19 health crisis, according to the latest research from the World Gold Council (WGC)
The gold industry has the potential to appeal to a sizable new audience. Technology can play a key role in opening up new avenues for gold investment; easy online accessibility is a must in this era of increasing global digitisation
Like most asset classes, gold is being affected by the unprecedented economic and financial market conditions in play around the globe, with inputs from analyst and consultant with WGC, Trevor Keel WGC decodes the effect of COVID-19 on gold prices
Consumer and gold trade sentiment may remain soft in India through 2020, the World Gold Council (WGC) said in its latest report 'Outlook 2020'.
Jewellery demand was hampered by the continued strength in the gold price, which hit a new multi-year high, as well as consumers being downbeat on the health of the global economy
"We are dealing with higher import duty, erratic monsoon, slowing economic growth and then very volatile and all-time high gold prices and the demand really seems to be taking a backseat amongst all of this," says PR Somasundaram, MD-India at World Gold Council
The first quarter of the year, gold demand increased to 2,181.7t in the first six months of 2019, an uplift of 8% compared with the first half of last year
While the World Gold Council (WGC) has set voluntary guidelines for all countries, they have instructed respective country Governements to form their own regulatory norms
World Gold Council (WGC) states that ongoing elections may act as headwin for gold demand due to restrictions on persons carrying cash exceeding Rs 50000.
Global gold demand reached 4,345.1 tonnes (t) in 2018, up 4% on 2017 and in line with five-year average demand of 4,347.5t, according to the WGC's latest Gold Demand Trends report.
The gold jewellery demand is likely to face pressure in the long term, however, the country's demographics will offset the trends and boost demand, the World Gold Council (WGC) said in a report today.
Demonetization hasn't deterred gold purchase in India; Indian gold demand accounted for 1/5th of world gold demand says WGC
WGC latest report shows that Indian gold demand supported world gold demand in the first quarter of 2017.