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.
Jain also said that the protesting jewellers will make a representation to district collectors against the gold hallmarking rules.
The forex kitty declined by USD 2.10 billion to USD 619.365 billion for the week to August 13 due to a fall in the core currency assets and gold
Looking ahead, the World Gold Council report said that central banks will need to balance financial and geopolitical uncertainty with a potentially strong pickup in global growth.
In the international market, gold was trading lower at USD 1,893 per ounce and silver was flat at USD 27.79 per ounce.
The April contract of gold futures on the MCX was at Rs 44,458 per 10 gram.
