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.
The customs on Wednesday detained two passengers travelling on Turkmenistan Airlines from Turkmenistan to Delhi for carrying gold weighing 538 gm and other undocumented items.
Meanwhile, the BSF foiled a gold smuggling attempt and arrested a farmer with 1.2 kg of gold worth Rs 86,00,471 at the India-Bangladesh border.
The World Gold Council (WGC) pegged a drop of 5% in gold demand in the April – June 2024 quarter at 149.7 tonnes.
AIGJDC Chairman Saiyam Mehra said that this was a long-standing demand from the All India Gems and Jewellery Domestic Council, which represents the entire gems and jewellery industry.
The gold was stacked in the house of a person in the Koyul village near the Line of Actual Control (LAC) with China.
