Share of investment demand in India’s total gold consumption to rise in 2025: WGC
The World Gold Council (WGC) on Wednesday said the share of investment demand in India's total gold consumption will likely rise in 2025.
The World Gold Council (WGC) on Wednesday said the share of investment demand in India's total gold consumption will likely rise in 2025.
Chaotic as it seems, Donald Trump’s tariff war and subsequent walk-backs are a deadly serious attempt by his team to address what they perceive as the core issues of the dollar-dominated global monetary system.
Gold prices hit a new record high in India on Wednesday, with the yellow metal trading at Rs 95,435 per 10 grams on the Multi Commodity Exchange (MCX).
India's competitive position in select product segments may help cushion some of the losses, it mentioned.
As the US reciprocal tariff deadline looms, gold prices on Monday hit a record high of $3,106 per ounce for the first time, with people rushing towards accumulating the safe-haven asset amid global uncertainties.
Weak global trend led to fall in gold and silver prices hitting two months low. The 22 carat gold price per 10 gram today in Delhi, Kolkata and Mumbai stood at Rs 47,000 while in Chennai it went down to Rs 47,540.
Prices of the yellow metal in international markets have declined by around USD 100 per ounce to USD 1,700 so far in July, data showed. In India, the prices declined by around Rs 1,800-2,000 towards Rs 50,000 per 10 gm during the same period.
Citing the uncertainty in the global macro environment, the Indian rupee is likely to be under pressure, especially if crude prices remain elevated and global growth slows down.
On Thursday, the central government increased the customs duty on gold from 10.75 per cent to 15 per cent to curb gold imports.
The Indian Bureau of Mines has released provisional day which says that the cumulative growth for the period April to February 2021-22 over the corresponding period of the previous year has increased by 13.2 per cent.