- The domestic gold price increased by 4.1% in February m-o-m and 8.4% higher than the end of 2019.
- Rising gold price and higher volatility in the market lured investors towards gold ETFs. With strong inflows of 3.8t in February, the total gold-holdings of Indian gold ETFs touched 20.4t at the end of February.
- Wedding season and stable price supported demand till 18th February, but demand faltered after the spike in domestic price after 18th February. With soft demand, the average discount in the local market widened to US$13-16/oz by the end of the month