Kavita Chacko

Research Head, India World Gold Council

India gold market update: Import tightening

Gold import duty was raised sharply from 6% to 15%—the steepest increase on record—alongside broader regulatory tightening to curb imports. Weak demand and ample supply have kept domestic gold prices at a significant discount to landed prices, indicating that the higher import duty has yet to be fully priced in. Historical trends indicate that higher duties tend to increase unofficial inflows, although official imports generally remain resilient. Indian gold demand in 2026 is expected to moderate, with jewellery and bar and coin demand estimated to decline by 50–60 tonnes (~10% y/y).

 Blog Posted 18 hours 45 minutes ago

Kavita Chacko

Research Head, India World Gold Council

India gold market update: Mixed reading

Gold prices partly recovered in April after March’s sharp decline, with domestic discounts narrowing on import curbs and supply constraints. Listed jewellers saw strong Q1 growth, driven by wedding and discretionary demand, higher ticket sizes, and expansion. March ETF inflows were hit by redemptions, though participation rose. The Reserve Bank of India kept gold reserves steady, while imports fell to a nine-month low.
Blog Posted 1 month ago

Juan Carlos Artigas

Regional CEO (Americas) and Global Head of Research World Gold Council

Ray Jia

Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold Council

Taylor Burnette

Research Lead, Americas World Gold Council

You asked, we answered: Has gold's performance structurally changed?

Gold’s volatility has markedly increased in 2026; however, similar episodes have occurred in periods of risk with volatility usually normalising within a few months. Bid-ask spreads have also notably risen since 2024; however, barring unusually high spikes in off market hours, the gold market still offers sizable liquidity through record trading volumes and two-way market activity. Amid a visible increase in the bond-equity correlation, gold remains a valuable strategic asset and portfolio diversifier even when accounting for its higher volatility environment.
Blog Posted 1 month ago

Ray Jia

Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold Council

China gold market update: A seasonal demand rebound in March

A decline in March narrowed gold’s Q1 gain. Wholesale gold demand rebounded notably m/m supported by seasonality. Local gold ETFs saw continued inflows in March, pushing the Q1 demand to a record high. The PBoC’s gold purchasing streak extended to 17 months in March. And gold imports during the first two months of 2026 rose. 

 Blog Posted 1 month ago

Weekly Markets Monitor

Weekly Markets Monitor - Conflict pressure mounts

Geopolitics and rising energy prices dominated markets last week, raising stagflation concerns. Early signs of fallout from the Middle East conflict are emerging, with softer PMIs across several economies. In the US, consumer sentiment weakened as inflation expectations rose. UK inflation held steady in February but faces upward pressure from higher energy costs, while Japan’s inflation eased on subsidies. China’s industrial profits rose, pointing to a firmer recovery
Blog Posted 1 month 2 weeks ago

Kavita Chacko

Research Head, India World Gold Council

India gold market update: Volatility softens demand

Gold prices have pulled back from end-January highs, pressured by a stronger US dollar and a rise in US Treasury yields. In addition, outflows from gold ETFs, particularly US-listed gold ETFs, – likely indicating tactical profit taking from the sharp rally in January – further weighed on prices. However, the pullback was contained, as heightened geopolitical tensions and ongoing policy uncertainty continued to reinforce gold’s role as a safe-haven asset.
Blog Posted 1 month 4 weeks ago