India’s Festive Gold Buying Surges Despite Record Prices
As Dhanteras and Diwali draw near, Indian consumers are actively purchasing gold despite record-high prices, driven by hopes for strong returns amid a cooling stock market. This surge in demand may further elevate global gold prices and impact India's trade balance, indicating a robust festive buying sentiment
Jewellers Strike Gold This Rakhi with Record-Breaking Sales
This Rakshabandhan, gold retailers across India celebrated a substantial increase in sales, as consumers took advantage of reduced domestic prices following the recent import duty cut
Jewellery Stocks Glitter for Second Consecutive Day Following Customs Duty Reduction; Kalyan Jewellers Soars 15%
Jewellery stocks continued their upward momentum for a second straight day on Wednesday as investors responded positively to the reduced customs duties
Gold Prices Rise, Deter Buyers in India and China
In India, anticipation of potential import duty cuts in the upcoming budget adds further complexity to market dynamics, while in China, retail and wholesale demand reflect the strain of elevated prices
Gold surge could dull Indian wedding season demand
The surge in gold prices might dampen the demand during the Indian wedding season, while the outlook remains robust in China
Gold price may hit Rs 70000 amid dip in global economy
The yellow metal price is hovering at Rs 63,060 per 10 grams on the commodity stock exchange MCX and around $2,058 an ounce in the international market at a time the rupee is trading above 83 against the dollar
Revenue of organised gold jewellers to rise 16-18% in FY24
Sustained high gold prices are likely to hike revenues of organised gold jewellery retailers by 16-18 per cent this fiscal, a report said on Thursday
Surge in Gold Jewellery Recycling Expected to Reach Record Levels
The World Gold Council has forecasted that a record amount of used gold jewellery will likely be sold in India, reflecting the growing trend of individuals leveraging the advantageous market conditions to unlock the value of their assets.
India's gold imports for January have hit a 32-month low, plummeting 76% from the previous year's numbers
The country imported 14.6 tonnes of gold in January 2023, down from 61.5 tonnes in January 2022. The lower demand for gold has affected not only India's import figures but also global gold prices, which fell on the news of India's reduced imports.
Gold Peaks, inches closer to an all-time high
Gold edges higher in Indian market hovering near an all-time high
Gold dealers pin hopes on festival season
Retail demand has been weak across the country for the past few days
Physical gold demand in India subdued this week
Dealers were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75% import and 3% sales levies, compared to last week's $3 premiums
Gold price discounts go up to nearly highest in one month
Gold dealers have been forced to offer discounts over official prices amid subdued physical demand in India
Gold Prices In India Discounted For First Time This Year
Physical gold prices in India moved to a discount over official domestic rates
India's Gold Market Still In The Green With High Demand
Festive demand still on in Indian markets, jewellery retailers happy
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